UK Report Looks at Faith Based Finance Public Faith and Finance – Faith responses to the financial crisis is a report recently published by the University of Bristol and supported by the Barrow Cadbury Trust, and Public Spirit which looks at faith-based responses to the financial crisis. Many references to Islamic finance as well as Christian finance are made throughout the report as part of... »

Following on from KT Bank opening the first retail Islamic bank in Germany, Peter Kruschel, director of banking supervision at the German Federal Financial Supervisory Authority, discussed Germany’s interest in Islamic banking in an interview with Bloomberg at the Global Islamic Finance forum held in Kuala Lumpur recently. He stated Germany is aware of the potential of the Islamic banking se... »

Islamic Assets tend to be more Risk Averse Sharia compliant funds tend to perform better in times of market turbulence because they do not hold banks or insurers. In an interview with Bloomberg, Gerald Ambrose, Aberdeen Islamic Asset Management said Islamic Assets tend to outperform in uncertain times. Highlighting the low interest rate environment of banks, he added banks are hardly making any mo... »

John Cunniff/Flickr/CC »

HMRC Failed Tax Bid A recent tax case in which the UK Tax authorities (HMRC) failed in a legal bid to recover up to £50m in stamp duty demonstrates the complex nature of Islamic financial transactions. Three Court of Appeal judges decided that HMRC had pursued the wrong party for the tax. The purchaser, a firm owned by the Qatar Investment Authority, had used an Ijara structure to fund the purchas... »

The fourth edition of the International Forum on Islamic Finance of West African countries concluded in Dakar, Senegal on 3 June. »

In a speech in London, Jaseem Ahmed, Secretary-General of the Islamic Financial Services Board (IFSB), reviewed some of the principal findings of the IFSB Stability Report for 2016. »

Alternative Student Finance Solutions for UK Students To ensure participation and choice are open to all, the UK Government has introduced primary legislation which will, subject to Parliament, allow the Secretary of State to provide alternative student finance consistent with the principles of Islamic finance alongside loans and grants. The Government introduced primary legislation in May 2016 wh... »

China Seeks Islamic Financing and Partnerships for its New Silk Route Giving its take on the recent annual IDB meeting in Jakarta, the Chinese 24-hour English language television channel CCTV News gave its take on the event from a Chinese perspective. The need for more infrastructure investment in IDB member nations was highlighted with possible sources of investment coming from China’s one belt, ... »

As the Islamic financial industry continues to experience exponential growth, offshore financial centres (OFCs) are keen to market their value for the development of Sharia compliant financial products. OFCs are working towards establishing comprehensive eco-systems to gain competitive advantages over other jurisdictions for business, promoting the element of low taxes or low costs of doing busine... »