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Saudi Awwal Bank announced the world’s first Islamic Repo on blockchain in partnership with Oumla.
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The purchase of Islamic financial bonds by the Central Bank through repo in accordance with sharia without affecting the reserves of the banking network was reviewed.
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The Sharia Council approved the use of the Sharia-compliant redemption agreement instrument in the interbank market.
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The IAIF held the 29th specialized session on the Repo functions in accordance with Sharia in the money and capital markets on 23 Feb. 2020.