For many years, I and others have lobbied the UK Government about the tax liability that can arise when appreciated real estate is refinanced using Shariah compliant finance. In the documents released alongside the 30 October 2024 Budget, the Government confirmed that it would fix this problem. However the change is only prospective, with no relief for those who have fallen into the trap before. The legislation is now on the statute book within Finance Act 2025.

Veon’s Mobilink Bank launches Shariah-compliant banking in Pakistan  Developing Telecoms

Pak Qatar Family Takaful IPO oversubscribed 3.8x  Mettis Global

Engro executes Rs133bn fully Islamic financing deal for telecom tower expansion  Mettis Global

Eurasian Development Bank plans to develop Islamic financial products  Report.az

Bank Nizwa drives Waqf innovation with the graduation of the second cohort of Waqf Leaders  ZAWYA