CIMB Islamic and PETRONAS sign inaugural Tahawwut Master Agreement for Islamic commodity derivatives

KUALA LUMPUR: CIMB Islamic Bank Bhd and PETRONAS have signed an inaugural Tahawwut Master Agreement (TMA) for Shariah Compliant Commodity Derivatives.

The signing of the TMA marks PETRONAS’ venture towards Shariah-compliant derivatives, making PETRONAS the first corporation in Malaysia to utilise CIMB Islamic’s Shariah-compliant commodity hedging instruments for Islamic Energy Commodity Derivative trades.