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Singapore’s strength as finance hub to spur growth of Islamic services

Posted on 08 April 2013

Singapore’s strength as a finance hub is key to allowing Islamic financial services to flourish, said Monetary Authority of Singapore (MAS) assistant managing director Ng Nam Sin. Mr Ng said the country’s three-pronged approach to the sector is underpinning its rapid growth.
One tack is to accommodate Islamic finance products within Singapore’s regulatory and tax framework where possible. He said: “We have ensured the neutrality of the rules insofar as Islamic financing is similar to conventional financing in economic substance and risk.”……………………………………….Full Article: Source

 
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