20 Jul 2010 STRUCTURING SHARIAH-COMPLIANT FUNDS IN MALTA
With the Maltese regulator paving the way for Malta to become a gateway to Islamic finance, Dominique Lecocq of Lecocqassociate explains the terms and conditions associated with setting up a Shariah-compliant fund.
What size is the Islamic finance industry and how does it evolve?
Estimates varied considerably in the past and until recently there was no reliable benchmark available to investors. Arguably the biggest boost came when Dow Jones and Lipper launched their set of indices covering Islamic funds. The Malta Financial Services Authority (MFSA) has recently published a guidance note on structuring Shariah-compliant investment funds in Malta within the
regulatory framework applicable to investment funds, thereby paving the way for establishing Malta as a gateway to Islamic finance.