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