Tuesday, October 31, 2006

UK Sukuk Regulation, Prudential plc at the DIFC, WIIFC

"UK to ease issuance of 'Islamic bonds'", Financial Times, October 31, 2006

The move by the U.K. will define the regulatory framework surrounding the issue of sukuk. Since there has not been a defined treatment of sukuk for capital gains tax or capital allowances, many companies have been reluctant to issue sukuk in London, instead issuing them offshore. In addition to capturing a share of the sukuk market, it "reflects hopes among senior British politicians that the sector could help build bridges with the Muslim world".

"Prudential plc to establish a fund management and distribution base at Dubai International Financial Centre", AMEinfo, October 31, 2006

U.K.-based financial services company Prudential plc announced that it received a license from the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC). The company plans on using the license to expand into Shari'ah-compliant financial products.

"Ernst & Young to host the World Islamic Infrastructure Finance Conference 2006 Powertable", AMEinfo, October 31, 2006

The World Islamic Infrastructure Finance Conference Powertable will focus on how large-scale infrastructure projects can raise the capital necessary with Shari'ah-compliant products. The conference will be held November 5-6, 2006 in Doha, Qatar.

This is one of many conferences listed on the Institute of Halal Investing's website under Conferences

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