UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance

UK Legislation Related to Islamic Finance

 

 

Finance Act 2003: Removes the levy of stamp duty land tax (SDLT) for Murabahah and Ijarah based home financings.

http://www.legislation.gov.uk/ukpga/2003/14/contents

Finance Act 2005: Clarifies tax treatment of payments made under Murabahah and Mudarabah contracts.  Removes the levy of SDLT for Diminishing Musharakah based home financings.

http://www.legislation.gov.uk/ukpga/2005/7/contents

Finance Act 2006: Clarifies tax treatment of payments made under Diminishing Musharakah-based financings and Wakala contracts.  Extends benefit of relief from the levy of SDLT in Murabahah, Ijara, Diminishing Musharakah based real estate transactions to all entities including companies.

http://www.legislation.gov.uk/ukpga/2006/25/contents

FSMA 2000 Regulated Activities Amendment No. 2 Order 2006: Diminishing Musharakah and Ijarah based home financings now regulated by the FSA.

http://www.legislation.gov.uk/uksi/2006/2383/contents/made

Finance Act 2009: Clarifies tax treatment for Sukuk.

http://www.legislation.gov.uk/ukpga/2009/10/contents

UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance

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