Considering the fact that Islamic banks price their products based on the LIBOR; discuss in details the effects of monetary policy on Islamic banks profitability

As we know that islamic bank price their product based on the LIBOR highly effect the profitability of islamic bank because LIBOR is demise.

As we know that LiBOR will be discontinued from decemember 2021 ,which effect highly on monetary policy of islamic bank and discontinuity also affect the profitability of the islamic banks.Post LIBOR how the financial transactions will be created in islamic bank may create complexity and most of islamic bank profitability is effected because they USE LIBOR to price their product.

Due to LIBOR discontinuity islamic bank should change their monetary policy and try other base rate rather than LIBOR as early possible to intact their investors otherwise Islamic bank will suffer heavily which may minimize the profit of islamic bank.