INSIDE ISSUE 16

SUKUKS

Rocked to the foundations

A statement by Sheikh Muhammed Taqi Usmani has led to new guidelines being issued by the Accounting and Auditing Organisation for Islamic Financial Institutions. Sabrina Sobri reports

SHARIAH SCHOLARS

Call for more intellectual capital

Islamic finance continues to flourish but the number of Shariah scholars with financial knowledge is not keeping up with demand. Joanne Selvam reports on the reasons for the slow increase

RECRUITMENT

Surge in hiring is widely forecast

As demand grows for key roles within the Islamic banking industry, how are financial organisations able to source and hire qualified candidates? Andre Nasr comments

EUROPE

Response to new demographics

As Muslim populations increase in size, the demand for Islamic banking and finance services continues to grow. Waheed Qaiser reports the EU is responding but some members have been more proactive

SOFTWARE

How technology keeps banks in line with Shariah-compliance

Like any other business, Islamic banks require bespoke software. The key function is to ensure all financial procedures are Shariah-compliant. We investigate what manufacturers have to offer

TAXATION

Western tax and Islamic finance

The UK has needed specific tax legislation for Islamic finance, while countries such as the USA manage without. Mohammed Amin illustrates the difference between traditional and Islamic tax systems

VIEWPOINT

The Last Word

Are sukuk Islamic? Brian Kettell on the controversy surrounding Sheikh Taqi Usmani's declaration