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IIFM and BAFT Publish MPA’s for Islamic Trade Finance

WASHINGTON — IIFM (International Islamic Financial Market) and BAFT (Bankers Association for Finance & Trade), announced the release of their joint initiative of creating global master participation agreements to support the development of Islamic trade finance business.

The IIFM-BAFT Master Participation Agreements (IIFM-BAFT MPA’s) consist of two separate standardized framework documentation to cater for Shari’ah-compliant Unfunded and Funded participation arrangements for trade finance transactions. The master agreements are supplemented by a Structure Memorandum and an Operational Guidance Memorandum to provide better understanding on use of the documentation from Shari’ah, legal and operational aspects. In addition, there are separate Shari‘ah pronouncement for each MPA standard.

Master Participation Agreement for Islamic Trade Finance
  • IIFM-BAFT Master Unfunded Participation Agreement
  • IIFM-BAFT Master Funded Participation Agreement
  • IIFM-BAFT Master Unfunded or Funded Participation Agreements - Operational Guidance Memorandum
  • IIFM-BAFT Master Unfunded or Funded Participation Agreements - Structure Memorandum