PwC Islamic Finance blog

Eliminating the stamp duty land tax (SDLT) costs when sukuk are issued

SDLT is potentially a major cost if one tries to issue an ijara sukuk using UK land.

The usual structure would involve a special purpose vehicle (SPV) owned by a charity, with the originator selling the land to the SPV which would pay for the land by issuing sukuk. The SPV would then lease the land back to the originator, and at the end of the sukuk the originator would repurchase the land from the SPV.

PricewaterhouseCoopers award for Best Takaful Advisory Firm

I was delighted when PwC received the award for ‘Best Takaful Advisory Firm’ at the inaugural 2008 International Takaful Awards held at the Jumeirah Carlton Tower, London in July. The press release can be found on our UK firm website; the page shows Mohammad Khan, who leads our takaful team, receiving the award from Lord Sheikh who is a former president of the Chartered Institute of Insurance.