Wednesday, August 15, 2007

It's not all about taxes

The head of the newly-established Asian Finance Bank (70% owned by Qatar Islamic Bank) describes the challenge facing the Malaysian Islamic financial industry: "It's not all just about tax [exemption]. The challenge is to define clearly the target segment, the products that we want to deliver and the capability in delivering them". Malaysia has reduced taxation on Islamic financial institutions to attract foreign financial institutions to the country and has reduced barriers to Islamic banking in foreign currencies.

A new S&P/Citigroup index will track Arab Shari'ah-compliant property companies.

70% of all sukuk are issued in Malaysia.

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