Cross-border deals seen driving sharia finance growth
On the one hand the rise in Islamic capital markets will be charged by more cross-border deals but on the other hand, the disparity in tax and legal framework across jurisdictions needs to be directed to.
A common platform for cross-border transactions as would collaboration among countries will be offered if there will be increased harmonisation in sharia interpretation and more guidelines from global industry bodies.
However, growth of Islamic capital markets was slowed down by limited distribution channels for sharia financial products and disparity in the legal, regulatory and tax frameworks.
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