islamic investments
Contenuti
By Stefano Loconte
Everybody knows the worldwide relevance of Italy’s mark of quality as much as the importance and the prestige of Halal certification.
In the common opinion, ‘Made in Italy’ means beautiful and well produced, and is recognized as a trademark itself.
At the same time, the Halal market has gained recognition globally not only in Muslim countries but also in Muslim minority countries, including Italy. Furthermore, the category of ‘Halal’ is nowadays not only for foodstuff s and beverages but also for fi nance, insurance, cosmetics and medicines.
This represents a unique opportunity for Italian companies and firms to expand their markets to Muslim communities in the Mediterranean area and the Middle East and strengthen their business. But all that glitters is not gold.
The acceptability of Halal certification by an Italian company depends on many different factors, which we have analysed in this article, first published in Islamic Finance news Volume 17 Issue 38 dated the 23rd September 2020.
Download and read the full article as PDF at this link (Download)
By Stefano Loconte
Our Managing Partner has analysed special requirements to establish an Islamic bank in Italy on this article which was first published in Islamic Finance news Volume 17 Issue 30 dated the 29th July 2020
“The possibility of opening an Islamic bank in Italy can be a reality but it requires respecting binding rules and specific procedures.
In fact, institutions that could offer Shariah compliant financial products and services could collaborate with Islamic banks or branches of an Islamic bank established in another European or extra-EU country. In any case, each type of Islamic financial institution needs a Shariah board, or Shariah supervisory board (SSB), that sits at the top of the company’s governing structure”
Read the full article here online on IFN News
Otherwise you can download a PDF of the single page with the article, here as follow (Download)
By Stefano Loconte for IFN Islamic Finance News Volume 17 Issue 26 (1st July 2020)
“It is remarkable that the Italian legal framework does not forbid but at the same time does not even expressly authorize these operations. The main reason why these operations are not performed in Italy is due to the fiscal costs. In fact, these financial operations are subject to double taxation compared to the traditional ones. The costs incurred will not be, economically speaking, sustainable for the banks. At this point, it seems necessary for the introduction of a specific framework to balance the Islamic finance model with the traditional models, in line with what has has already been done in other European member states”
Read the full contribution of our founder Stefano Loconte, published in Islamic Finance news Volume 17 Issue 26 dated the 1st July 2020, about the possibility and the difficulties of creating the “Islamic windows” in Italy.
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You can also download the single PDF page at this link (Download)