The Bahrain Financial Exchange (BFX) a multi-asset international exchange, has become a member of the International Islamic Financial Market (IIFM), an international institution focused on the development of the global Islamic capital and money markets.

IIFM’s primary focus lies in the advancement and standardisation of Islamic financial services industry’s documentation, wider market products, processes and the issuance of guidelines and recommendations for the enhancement and unification of the Islamic capital and money market globally.

“This is an important step for the BFX so that it can utilise industry best practices and ensure that its Islamic products remain innovative and market led,” said Arshad Khan, board director of the BFX.

The IIFM is an international infrastructure development body established and supported by the central banks/ regulatory authorities of Bahrain, Brunei, Indonesia, Malaysia, Pakistan, Sudan, Dubai International Financial Centre and the Islamic Development Bank, Saudi Arabia, as well as a number of regional and international financial institutions.-TradeArabia News Service