From Abc.net.au: The chairman of the Federal Government’s independent adviser on tax laws, Dick Warburton, says people are over-reacting in the debate on Islamic banking. The Board of Taxation recently released a discussion paper on the tax treatment of Islamic finance.
Sharia-style banking prohibits the payment and collection of interest and deems that all parties to a financial transaction must share in the risks and rewards involved……………………………………….Full Article: Source