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  Group Business Banking > HL Markets > Islamic Money Market Instruments > MITB |
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MITB MITBs are short-term securities issued by Federal Government for working capital. They are issued and traded on a discounted basis and payable at face value on maturity, with maturities not exceeding one year.The MITBs are structured based on the Bai-Al-Enah principle. It involves purchase of Government’s assets by investors at specific price (after discounted profit element) and subsequently sells the assets back at par on a deferred payment basis. MITBs are actively traded based on Bai al-Dayn (debt trading) principle in the secondary market.
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