Financial Regulatory Forum

COLUMN-Qatar bank ban bad for Islamic finance

February 18, 2011

By Keith Mullin, Editor at Large, International Financing Review; the views expressed are his own.

ANALYSIS-Lack of standardisation hobbles Islamic finance

May 10, 2010

By Shaheen Pasha and Liau Y-Sing

DUBAI/KUALA LUMPUR, May 10 (Reuters) – Wrangling among scholars and wiggle room in interpretation of Sharia principles threaten to derail any attempt to arrive at global standards in Islamic finance, holding back the $1-trillion industry.

Indonesia passes law on VAT, luxury sales tax

September 16, 2009

Indonesia's finance minister, Sri Mulyani Indrawati, arrives for the G20 Finance Ministers meeting at the Treasury, in central London September 5, 2009, REUTERS/Dominic Lipinski/Pool      By Dicky Kristanto and Andreas Ismar
JAKARTA, Sept 16 (Reuters) – Indonesia’s parliament on Wednesday passed a revised law on value added tax (VAT) and sales tax on luxury goods, which could boost corporate mergers and spur the country’s fledging Islamic markets.

Top scholar sanctions Islamic tawarruq structure

August 11, 2009

A man stands, identifying he has completed an exam to become a religious scholar, at the Jamia Binoria Al-Alamia Seminary Islamic Study School in Karachi July 18, 2009. Over 2,000 men took the annual exams at the madrasa, where 6,000 boys and girls are educated, fed and housed. REUTERS/Athar Hussain (PAKISTAN RELIGION)   By Liau Y-Sing
   KUALA LUMPUR, Aug 11 (Reuters) – Tawarruq must meet the standards of industry body AAOIFI and cannot be a standalone funding tool, a top scholar said, outlining conditions for the use of a structure that has split the sharia banking sector.