Pulse of the Islamic Capital Markets

The Islamic Interbank Benchmark Rate ('IIBR') is a landmark initiative sponsored by Thomson Reuters in collaboration with independent stakeholders/associations and high profile Islamic banks and Islamic banking windows.

Utilising contributions from up to 16 major Islamic banks and Islamic banking windows, the IIBR provides a robust indicator of the average expected cost of short term interbank market funding for the Islamic finance industry.  

Background
Since the establishment of the first Islamic commercial bank in 1975, the Islamic finance industry has been searching for an indigenous benchmark.
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Definition, Methodology & Criteria
The IIBR is calculated by Thomson Reuters based on a time tested methodology agreed upon in consultation with the Islamic Benchmark Committee and approved by the Shariah Committee. Learn more   

Timing of Publication
The official reference time in relation to the IIBR is Makkah time (GMT +3).
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Contributor Panel
The Contributor Panel are the banks selected in coordination with the Islamic Benchmark Committee.
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Governance
The IIBR is governed by a stringent and transparent governance framework.
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