(d) Sell and Buy Back Agreement (SBBA), which involves Bay' al-'inah based transactions; (e) Islamic Accepted Bills (same as Bankers' Acceptance
) with Murabahah and Bay' al-Daynas the two underlying contracts; (f) Negotiable Islamic Debt Certificate (NIDC) with Bay' al-'inah as underlying contract, etc.
can be issued by individuals, companies or another bank and accepted by a bank on behalf of its customers (Ezema, 1993).
Peter "Institutions and the Development of Liquid Markets: The Case of the Bankers' Acceptance
, 1914-1934." Unpublished manuscript, Macalester College, 2001.
A bankers' acceptance
is a trade acceptance that has been guaranteed by the buyer's bank, at which point it becomes an obligation of the bank, rather than of the buyer.
Moreover, the New York Reserve Bank kept the bankers' acceptance
rediscount rate sufficiently low to give renewal paper a preferential position.
(B/A) financing in the last decade has increased more than tenfold, to a large extent reflecting the expansion of U.S.
From March 30, 2022 to maturity on March 30, 2027, debentures will pay a quarterly coupon at a rate equal to the 90-day bankers' acceptance
plus 1.19 percent, beginning June 30, 2022.
Aggregating financing, which includes bond and equity sales, entrusted loans and bankers' acceptance
bills, was probably 1.115tn yuan last month, according to the median estimate in a Bloomberg survey, compared with 1.4tn yuan in September and 1.29tn yuan a year earlier.
The Notes bear interest at a fixed rate of 3.32 per cent per annum (paid semi-annually) until June 1, 2021, and at the three-month Bankers' Acceptance
Rate plus 2.16 per cent thereafter (paid quarterly) until their maturity on June 1, 2026.
9 December 2013 -- Canadian exchange operator TMX Group Ltd (TSX: X) said that its Montreal Exchange achieved a new open interest record on the Three-Month Canadian Bankers' Acceptance
Futures reaching 866,569 contracts on December 4 2013.
The Notes are expected to be issued on March 4, 2016 and will bear interest at a fixed rate of 4.859% per annum (paid semi-annually) until March 4, 2026, and at the three-month bankers' acceptance
rate plus 3.49% thereafter (paid quarterly) until maturity on March 4, 2031.
The bank said in a statement on 31 July that the notes will pay a coupon of 2.898% for the first five years of their term, until 3 August 2017, and, starting from 3 November 2017, holders will receive quarterly payments of the 90-day bankers' acceptance
rate plus 1.255%.