Islamic finance in Europe (100)

Continuation

These issues are:

o   the abolishment of capital gains:

-      tax

-      and stamp

duty (land tax) for:

-      sukuk issuances

-      and Shari’ahcompliant home mortgages;

o   the reform of arrangements for bond issues so that:

-      returns

-      and income

payments are treated in a similar manner to interest;

o   Financial Services Authority (FSA) initiatives to ensure that the regulatory treatment of Islamic finance is consistent with its statutory:

-      objectives

-      and principles.

From the research paper of European Central Bank

(Authors: F.Mauro, P.Caristi, S.Couderc, A.D.Maria, L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)