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Treasury products

Foreign Exchange Products

  • FX Spot
    Noor Bank has the capability to provide quotes in various Foreign Exchange currencies. Our Foreign Exchange dealers actively deal in the G10 and GCC currencies. Noor Bank also offers remittances services in more than 140 currencies across the globe.
  • Islamic FX Forward (W'aad)
    Noor Bank offers Islamic Foreign Exchange Forwards through the Shariah compliant structure using a unilateral W’aad. Our dealers have the capability to offer forward prices in various currencies to clients looking to exchange foreign currencies in a forward date.
 

Cash Management Products

  • Commodity Murabaha
    Commodity Murabaha is a Sharia compliant product used for investing excess funds. A counterparty can invest excess funds with Noor Bank by entering into a Commodity Murabaha transaction and earn a profit through the difference in the purchase and sale price of the Commodity transaction. Noor Bank Treasury has a dedicated unit which deals with international and well reputed brokerage houses to execute the Commodity transactions.
  • Wakala
    Wakala is a Shariah-compliant product used for managing short to medium term cash flow requirements. An investor can earn a profit at an anticipated rate by entering into a wakala transaction with Noor Bank. The investor acts as Muwakkil while Noor Bank will act as Wakil to invest these funds in a pool of Shariah-compliant assets.
 

Hedging Products

  • Profit Rate Swap:
    Noor Bank is an active player in the Profit Rate Swap market and has the capability to offer this product in various currencies for medium to long term (within approved guidelines). A Profit Rate Swap is a product through which the institutions can efficiently manage their profit rate exposures. This product is beneficial to both the borrowing and investing institutions as they can hedge their market rate exposures. A Profit Rate Swap is an agreement to exchange profit rate payments between a party paying Fixed Profit Rate and a party paying Floating Profit Rate or vice versa implemented through the execution of a series of underlying contracts to trade certain assets under the Sharia principles of Murabaha financing and Murabaha investment.
  • Islamic Cross Currency Profit Rate Swap
    Islamic Cross Currency Profit Rate Swap product allows institutional clients to take advantage of the difference in the profit rates of different currencies and hedge potential currency and rate exposure. An Islamic Cross Currency Profit Rate Swap is an agreement to exchange profit rate payments from one currency to another currency implemented through the execution of a series of underlying contracts to trade certain assets under the Sharia principles of Murabaha financing and Murabaha investment.