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Top three gainers for the fund in April were Conoco Phillips (+19.74%), MTN Group (+16.63%), and Bristol Myer Squibb (+14.00%). »
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 Malaysia based Islamic Financial Services Board (IFSB) has published its 2016 report. »
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. »
Sukuk issuances rose to USD114.7bln in 11M14 (Jan-Nov 2014), a sizeable 8.6% increase from the USD105.6bln volume recorded during 11M13. Sovereign issuances accounted for almost 80% of total issuances. The record for issuances was in 2012 when $137.1 billion was raised, while issuance dropped to $116.9 billion in 2013 and fell further in 2014. »
The Islamic Financial Services Board in its Islamic Financial Services Industry Stability Report 2015, provides some useful data with regards to the latest statistics to the size and growth of the market, an industry which remains in an upward trajectory, evidenced by its assets’ double-digit compound annual growth rate (CAGR) of 17% between 2009 and 2013. »
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, ... »
