PBR: Islamic finance boost

In his Pre-Budget Report statement today, the Chancellor, Alistair Darling, says he will also provide relief from tax on capital gains for alternative property refinance transactions to maintain the UK's position as a centre for Islamic finance. In addition, guidance will be issued on VAT treatment of alternative finance investment bonds. Mohammed Amin, head of Islamic finance PricewaterhouseCoopers, says it is a small but important step in keeping the UK ahead of other Western countries. "I'm pleased they have taken this measure as other countries are competing to attract Islamic fina...