In the previous post, "how Islam compliance features??" to implement required changes to establish how it appears in the playground of traditional financial products face level challenges, Hong Kong S.A.R. Government and Islamic finance I touched. Example absolute can be seen United Kingdom experience, by providing financial services growth niche.
In the establishment of appropriate fiscal United Kingdom Government Islamic financial and regulatory framework, United Kingdom focus 2003. Since then, United Kingdom Government has achieved the following.
remove a double tax Islamic mortgages is moreover in o 2003 extends the housing loan Islamic corporate and personal tax cuts.
is treated as o financial centre London issues and trade sukuks return i.e. Islamic bond more attractive interest as income payments, increasingly became a reform of the arrangements for the issuance of.
provides an efforts ensure that consistent treatment regulations o, United Kingdom financial service regulators, financial services institutions, Islamic finance has statutory objectives and principles as a whole.
United Kingdom Government also comply with Islamic bonds issue and conduct review-compliant Islamic retail banking products provided via national savings and investments, and corresponding reviews. Provide value for money either confirmed to monitor closely the Government announced in November 2008. At the same time, the traditional and United Kingdom Government decided to support the development of Islamic finance while ensuring alternative financial, are treated equally. Focus uses to identify the existing market barriers and legislation providing a product that complies with Islam and to compete on an equal financial legacy forms and thus. Specific efforts went to existing tax and regulatory system that you want to invest in United Kingdom market investors several types of products that do not transform.
By the results of the achievement so far, this proactive and forward looking approach can see United Kingdom Government essentials. Date, Islamic products are United Kingdom
o 5 fully compliant Islamic Bank. 5, Add "is and can provide expertise on Islamic finance companies and members of public Islamic Windows" of Islam-compliant service provides. Is a non-Muslims over the other country.
o, London Stock Exchange in the total procurement 18 sukuk issue United States 10.5bn dollars. This exceeded only by NASDAQ Dubai.
o, total 7 was launched in 2008, just four Islam governing foreign exchange trading funds. Two new additional stock fund saw 2008 startup also.
known as the first company takaful to offer insurance products o non-bank side, Islamic compliant, United Kingdom residents were approved in 2008.
o 6 to provide support for Islamic finance to support the development of Islamic finance law firm. Also provides big four professional services companies Islamic financial advisory services.
provides the authority required Islamic financial education provides support for education of more than 50 o and training products. This is greatly around the world than in other countries.
This is a tough Hong Kong S.A.R. Government to act. Not only must compete with solid legal platform it is offering United Kingdom Government starting United Kingdom, head of the six years. United Kingdom secure status as a Centre for Islamic finance key West, great job. It is suitably motivated is good given the possibility, in particular, East Asia, I in Hong Kong S.A.R. Government Hong Kong S.A.R. regulatory framework, needed to change.
Therefore, repeat call my Secretary, John Tsang let. Please, please take the plunge in Mr. Tsang, bold. Bill needed as quickly as possible to the established. Only increase the profile of Hong Kong S.A.R. as a global financial centre also not in quite a few new jobs, financial services industry badly creates necessary job. Advice needed additional changes if necessary, the number of local and of experts can point in the right direction. Also my e-mail address is displayed in the bottom of this post, I just sit down, and for more information please contact happy in there. Similarly and support professional services, legal, accounting, financial services industry is the thank you!
Ruediger Prenzlin is the first stock index Hong Kong S.A.R. Hong Kong S.A.R. Islamic index Corporation's CFO, Islamic-compliant broad range of corporate functions. He can contact the cfo@hkislamicindex.com. For more information, see http://www.arabcci.org to, click link to Hong Kong S.A.R. Islamic index.
No comments:
Post a Comment