Presentation ENG Case Studies on Sukuk Issuance - METAC
Presentation ENG Case Studies on Sukuk Issuance - METAC
Presentation ENG Case Studies on Sukuk Issuance - METAC
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Other Sovereign and Quasi-Sovereign <strong>Sukuk</strong><br />
<strong>Issuance</strong>s Earmarked<br />
• Western ec<strong>on</strong>omies –<br />
• United Kingdom – The UK has introduced legislati<strong>on</strong> to prevent the double<br />
taxati<strong>on</strong> of assets taking place under an Ijara and has proposed new regulati<strong>on</strong>s<br />
to support Islamic finance and the issuance of a corporate sukuk within the UK<br />
• France – The French government is rumored to be c<strong>on</strong>sidering a sovereign sukuk<br />
issuance, which will be the first of its kind in France<br />
• Japan - The Japan Bank for Internati<strong>on</strong>al Cooperati<strong>on</strong> is planning a 7 year tenor<br />
sukuk targeting GCC investors with a value of between US$150,000,000 to<br />
US$200,000,000<br />
• South Korea – The finance ministry had proposed a revisi<strong>on</strong> to the tax code with<br />
the aim of treating sukuk as b<strong>on</strong>ds so that South Korean issuers could receive the<br />
same tax advantage as those applied to c<strong>on</strong>venti<strong>on</strong>al b<strong>on</strong>d issuers<br />
© 2012 Vins<strong>on</strong> & Elkins LLP
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