The outlook for Islamic securitization seems ever brighter, as Malaysia's Cagamas continues deliberating over which banks will handle its upcoming Islamic MBS - a first for the market - other entities are getting on with the business of doing deals.

Islamic ABS is still in its infancy in Malaysia and consequently, each new offering seems to be a first of its kind in some way, such as Talam Corp's completion of the first Islamic CMBS earlier this month (see ASR 2/7/04).

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