For example, in 2001 the Bank of Japan introduced the bill purchasing operation conducted at all of its branches, providing longer-term funds to a wider range of counterparties including local financial institutions. This measure is similar to the Federal Reserve’s TAF.
There is a debate on whether IF allows setting price at a future date with some scholars arguing it is not permissible and others with flexible interpretation that forward trades are permissible in Islam, if structured to provide specific quantity, time, weight and date.