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Winds of change in S. African tax laws for Islamic finance products

Posted on 27 September 2010

From Arabnews.com: The South African government’s recent confirmation that it is in the process of introducing tax neutrality laws for Mudaraba (trust financing), Murabaha (cost-plus financing) and Diminishing Musharaka (diminishing shared ownership) contracts is a long overdue recognition of the potential Islamic finance has for the country and the region.
Financial services industry sources stress that the proposed tax neutrality measures are just the start and the wider objective is to introduce a comprehensive regulatory and legal framework to facilitate Islamic finance in the country both for financial inclusion and market liberalization and development reasons……………………………………….Full Article: Source

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This post was written by:

Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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