Japan adopts new strategy

Japan has included tax reforms and regulatory measures for Islamic finance, as part of the country’s financial strategy, which is one of seven key components of the government’s “new growth strategy — blueprint for revitalizing Japan.
Malaysian Government-Linked Companies (GLCs) under the program are required to increase their investments through Islamic finance structures and to venture cross-border with the aim of developing a diversified and enhanced returns strategy.
Islamic finance facilitation, albeit a niche objective, fits in with Japan’s new growth strategy in other ways as well.