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Islamic Finance Briefing - Categorized | Accounting and Audit, Finance, Market Moves more

KPMG, CIMA fly the flag for Islamic finance

Posted on 08 July 2011

KPMG AND CIMA have drawn attention to the burgeoning field of Islamic finance of late, as the firm has appointed a new global head and the institute today launched a new qualification.
The primary difference between Islamic finance and its western counterpart is that, under Shariah law, earning interest is illegal. To get around this, complex structures are put in place that allow lenders to profit from their capital; this can be problematic in western markets, though, because products are often penalised by tax regimes……………………………………….Full Article: Source

 
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