According to recently published statistics the Channel Islands
cornered 25% of new launches of Islamic funds in 2010.
Shariah-compliant products are booming and the Channel Islands are
becoming known as a preferred location for Islamic fund asset
classes such as equities, money market, commodities, real estate,
mixed assets and sukuk. Shariah compliant expertise, including the
provision of the Shariah board, abounds in the Channel Islands.
The Channel Islands are at the forefront of Islamic finance and
other fund frontiers for a number of key reasons, including their
credibility, evidenced by their highly regarded regulatory status
as viewed by international organisations. The OECD and IMF have
given their stamp of approval. Further, it is clearly anticipated
that the Channel Islands will offer AIFM Directive compliant
The Channel Islands' success in the Shariah market place
reflects the success of active marketing in the Middle East and
Asia, and Tax Information Exchange Treaties are assisting the
Channel Islands in nurturing co operative relationships.
Further, Channel Islands service providers are both familiar
with and equipped to operate in markets which demand unconventional
and complex solutions. The islands not only have sophisticated
legal and regulatory frameworks, but also have highly qualified
regulators who understand the products with which they work.
It seems clear that the same factors which appeal to investors
in Channel Islands funds in general, have served to make them
equally attractive to investors in Shariah compliant funds.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
November Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts; 2016 Annual Gift Exclusion; 2016 Gift and Estate Tax Exemption Amount; Tax Court Upholds Valuation Discount on "Net Net Gift" (Steinberg v. Commissioner, 145 T.C. No. 7 (September 16, 2015)) ...
Trustees sometimes get trapped in trusteeships. Sometimes there is a relationship breakdown with the beneficiaries, other times the trustee is exiting the trust business, and other times still the trustee decides that a given trust no longer fits its risk profile.
1 January 2016 will see the EU's Solvency II Directive come into full effect, with requirements for EU insurers to comply with its three pillars on capital and solvency; governance and supervision; and disclosure and transparency of information.