Islamic Finance is a subject of increasing importance in the UK and globally, and I recently gave a talk in London regarding its taxation. To share this with readers, I have recorded the presentation in audio format and include these below, along with a podpack which features associated slides:
To listen to any podcast now, simply click any link below and they will automatically play in your default media player. To download the podcasts and listen to them at a later time, right-click any link and select "Save target as..." from the pop-up menu. Further information on the seminar and podcasting can be found later in this posting.
Islamic Finance podpack - PDF of the slides used at the presentation (18 pages / 164 KB)
Islamic Finance podcast - Part 1: Introduction and overview of conventional finance and its taxation (03:52 duration / 3.55 MB)
Islamic Finance podcast - Part 2: Typical Islamic finance structures (11:18 duration / 10.3 MB)
Islamic Finance podcast - Part 3: Overview of UK tax law changes (14:26 duration / 9.91 MB)
Islamic Finance podcast - Part 4: Islamic property finance and conclusion (07:31 duration / 6.89 MB)
About the Islamic Finance podcasts
The podcasts are taken from a presentation given to the Institute of Islamic Banking and Insurance, an organisation whose main purpose is to increase knowledge and awareness of Islamic finance in the UK.
Podcast 1 provides an overview of conventional finance and its taxation, highlighting the distinction between debt and equity.
Podcast 2 looks at seven specific structures that are used for Islamic finance (Murabaha, Mudaraba, Wakala, Musharaka, Diminishing Musharaka, Ijara and Sukuk), explains how the structures operate and illustrate whether they are providing debt finance or equity finance.
Podcast 3 looks specifically at the new tax law that was first introduced in Finance Act 2005 to facilitate Islamic finance and also discusses how this law was amended in Finance Act 2006 to increase the range of Islamic finance structures that the law was applicable to.
Podcast 4 examines Islamic property finance and Stamp Duty Land Tax (SDLT) relief, as well as the presentation conclusion.
For your convenience, I also include a full transcript of the podcasts.
About podcasts
Podcasts are basically audio files that can be downloaded for playback on any suitable device, such as a computer (through Windows Media Player or Apple iTunes for example), an MP3 player (such as an Apple iPod) or any multimedia-enabled mobile phone.
To listen to a podcasts now, simply click any of the podcast links for the file to automatically play in another browser window. The download time for each file will be between 1 and 10 minutes, dependent upon your Internet connection.
To download the podcasts and listen to them later on a computer, right click any of the podcast links and select “Save Target As…” from the context menu and save them to an appropriate location on your computer.
To listen to the podcasts on your MP3 player, please download the files to your computer and add them to your MP3 player in the usual way.
For a list of other business podcasts from PwC, please visit our Subscriptions services page.
Mohammed Amin
Very informative material and very, very well presented.
Posted by: mohammad shafique | 02 February 2007 at 01:03
I just want to thank you as a student and as a muslim. It is a useful website for both learner and investors. I am sure it will help the investors to have more clear idea and also to rethink about how this work. Nevertheless, world is changing, becoming more competitive than ever, and if we dont do something about them, then issues like these will keep us behind.
Thanks again
Posted by: sardar | 20 February 2007 at 00:54