JON GOLDING explains the Finance Act 2005 provisions that deal with the taxation of 'alternative finance arrangements'.
THE ISLAMIC LAW, Shari'ah, encompasses religious duties and in this law the legal side of matters is only part of the religious and ethical conduct of life. In applying the Qur'anic legislation, Islamic scholars have had to deal with the increasing ties with western business which may condone activities that are prohibited ('haram') by Islam, such as gaining wealth by interest, bribery or gambling.
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