Germany

Islamic Finance Conference in Frankfurt, 18th November 2010 - Contingent for IslamicFinance.de Users

On 18 November 2010 the "Islamic Finance Conference" will be held in Frankfurt am Main as part of the 13th EURO FINANCE WEEK (EFW) taking place from 15 to 19 November 2010 under the auspices of Dr. Wolfgang Schäuble, Minister of Finance of the Federal Republic of Germany.

The conference is organised in cooperation with the Union of Arab Banks. Institutional partner is the Institute for Islamic Banking and Finance.

The conference focuses challenges and opportunities of the Islamic Finance in Germany and in Europe and discusses investment trends, Sukuk’s opportunities as well as Islamic Wealth Management and last not least an Islamic Finance outlook.

Information about the event can be found under www.eurofinanceweek.com/islamicfinance

The organizer of the event, the Maleki Group, has offered a limited number of “Guest Ticket” exclusively for Islamic Finance group. Please note, admission upon the special guest ticket is very limited and the registrations will be processed on a first-come, first-served basis.

[German] - Steuerliche Wuerdigung islamischer Vertragsmodelle - Neuerscheinung im Bankverlag

Steuerliche Würdigung im nationalen und internationalen Kontext

Der Markt Islamic Finance wächst rasant und umfasst bereits heute ein erhebliches Anlagevolumen. Demgegenüber besteht ein großer Kapitalbedarf in der europäischen, speziell auch in der deutschen Realwirtschaft ebenso wie ein Bedarf an Investoren.

Bei der Umsetzung von Islamic-Finance-Vertragsmodellen kann die Besteuerung im Einzelfall eine ausschlaggebende Rolle spielen. Daher erläutert die Autorin in diesem Buch für ausgewählte schariakonforme Finanzierungs- und Anlageformen zunächst die Scharia-Rahmenbedingungen der jeweiligen Vertragsmodelle aus deutscher rechtlicher, ertragsteuerlicher und verkehrsteuerlicher Sicht. Die steuerlichen Fragestellungen werden anhand von Beispielen im grenzüberschreitenden Corporate Bereich im Schnittpunkt von deutschem internationalem Steuerrecht und ausländischem Steuerrecht der weiteren beteiligen Staaten verdeutlicht.

Inhalt

* Einleitung
* Grundzüge von Islamic-Finance-Vertragsmodellen
- eigenkapitalbasierte („Musharaka“ und „Mudaraba“),
- fremdkapitalbasierte („Murabaha“ und „Tawarruq“) sowie

PWC presents Takaful in Germany

PricewaterhouseCoopers offers a full day event about Takaful in Germany language. Below more details:

PwC Talk
Sharia-konforme Lebensversicherungsprodukte
16. September 2010, Köln
20. September 2010, München

Während Sharia-konforme Bankprodukte auf Veranstaltungen bereits recht eingehend diskutiert wurden, ist das Thema Sharia-konformer Lebensversicherungsprodukte bisher kaum Gegenstand eines fachlichen Forums gewesen. Die Veranstaltung möchte daher den Versuch unternehmen, diesem weißen Fleck auf der deutschen Landkarte der Produktentwicklung eine erste Topographie zu geben. Der wachsende Anteil der muslimischen Bevölkerung in Deutschland und Europa ist hierzu hinreichender Anlass.

Zielgruppe

Die Veranstaltung richtet sich an Führungskräfte und Mitarbeiter von Versicherungsunternehmen aus den
Bereichen Kapitalanlage und Steuern/Recht sowie Führungskräfte und Mitarbeiter von Kreditinstituten,
Investmentbanken oder Asset-Management-Gesellschaften für die Bereiche Versicherungen, Steuern/Recht und Investment/ Kapitalanlage.

Conference: Financial Services Providers and Consumer Protection - Two Worlds?"

Financial Services Providers and Consumer Protection - Two Worlds?"
---------------------------------------------------------------------------------
Dear colleague and fellow stakeholder of financial services,

The European Coalition for Responsible Credit will be holding its international stakeholder conference “Financial Services Providers and Consumer Protection - Two Worlds?" on 2nd and 3rd July in Hamburg. The event, organised by coalition partner iff and supported by the German consumer associations and the working group on debt advice of the associations (AG SBV) will gather consumer organisations, debt and money advisers, bankers, financial service providers, policy makers, academics and politicians to discuss current issues in retail markets for financial services in Europe and elsewhere.

Tax assessment of Islamic finance models under German Tax law

Ernst & Young prepared a statement in response to a query by the Central Council of Muslims in Germany regarding he tax assessment of selected Islamic finance contractual models. The attached report covers the main findings including an English summary.

Source: 

http://www.ey.com/Publication/vwLUAssets/Stellungnahme_EY_zu_Islamic_Finance_-_Mai_2010/$FILE/Stellungnahme%20EY%20zu%20Islamic%20Finance_Mai%202010.pdf

New Book in German: FINANCE & ETHICS: DAS POTENTIAL VON ISLAMIC FINANCE, SRI, SPARKASSEN

FINANCE & ETHICS: DAS POTENTIAL VON ISLAMIC FINANCE, SRI, SPARKASSEN
HERAUSGEBER:
ALBERT LÖHR UND MILENA V. VALEVA
VERLAG: HAMPP, R; AUFLAGE: 1., AUFLAGE (1. APRIL 2010)
ISBN: 978-3866184558
Language: German

English SUMMARY
The global financial crisis of 2008/2009 found its initial expression in the banking crisis. The crisis made it unequivocally clear, that the exclusion of morals and ethics from the under-standing of finance should not continue. The question at hand is: Are ethics in the financial realm conceivable? Which normative understandings of finance are justifiable? Which im-plementation approaches of ethics and finance could be derived from theory and practice?

New observing members of IFSB incl. MunichRe, The German Reinsurance giant

The IFSB said the National Bank of Tajikistan, Prudential Hong Kong, along with Malaysia-based OCBC Al Amin Bank and the Islamic reinsurance unit of Germany's Munich Re will join as "observer" members,

New updated Sharia scholar network analysis by Funds at Work

The 4th executive summmary now focusses on over 220 Shariah scholars with exposure to the Gulf Cooperation
Council (GCC), including their international board memberships with 1050+ board positions in almost 300
institutions and 24 countries.

It is the single most detailed analysis on Sharia Boards and their scholars published.

Funds at Work analysed the Social Responsible Landscape

Funds at Work, the strategy consultants analysed the Social Responsible Investment industry with their network analysis. Previously the firm did analyse the Sharia Scholars and their board positions. The report regarding the sister industry of Islamic finance can be downloaded for free.

Gassner's picture

Presentation Islamic Mortgage models for the German market

The Central Council of Muslims in Germany presented on the BAFIN Islamic Finance conference how mortgages for the Muslim community could look like, how large the market is and challenged the perception that there would be a need to change laws to avoid double real estate transfer tax; it shall rather work tax efficient with proper structuring and without changes. Hence, financial institutions are asked to provide equity and debt based mortgages for the Muslim market.

German BAFIN welcomes application for Islamic banking license

The German banking regulator, BAFIN, held today a conference about Islamic finance with strong international participation and about 200 guests.

BAFIN president, Mr Sanio, says that Germany makes it easy to obtain a licence to sell the products, which are also compatible with the country's financial rules. He expressively welcomed "the first interested party that wants to start offering these products".

KuveytTürk receives branch license in Germany

KuveytTürk, the Turkish Islamic bank, has received according to Turkish media a license to operate as a financial service branch.

Updated Report about Sharia Scholars in the GCC and now International - Funds at Work

6.10.2010: Report is update and again free for download

3.9.2009:
Funds at Work, a strategy consultant for the fund industry, updated its analysis on Shariah scholars' engagement in financial service organisations in the GCC countries and now internationally covering companies with 956 (498) Sharia Board positions and 180 (121) scholars.

The study shows that the Top 5 scholars make up at least 30.15 % of the entire univese of almost 956 board positions. The Top 5 scholars internationally (ex GCC) out of 70 scholars active beyond the GCC - make 58.21 % of all positions (201 board positions).

The detailed summary of the study is free for download.

German regulator BAFIN organises Islamic finance conference

The German regulator BAFIN is organising an Islamic finance conference on 29 October 2009. The announcement is in German, but the conference is held in English. The conference shall show different aspects of Islamic finance, and to determine the salient features. Further it shall discuss the developments in the insurance sector and capital markets. The aim of the conference is to sharpen the conscience about Islamic finance und its increasing role, the foundations of sharia compliant business, and the challenges involved herewith from the regulatory perspective.

Contact details:
Ricarda.Maier@bafin.de
jochenrobert.elsen@bafin.de

German: Die Wirtschaftskrise aus islamischer Sicht

The presentation is in German only.

Am 10. April wurde in der Volkshochschule Bielefeld in Zusammenarbeit mit dem Bündnis Islamischer Gemeinden ein Vortrag zur Wirtschaftskrise aus islamischer Sicht gehalten.

Die Präsentation wird hier als PDF Dokument zum Herunterladen angeboten. Die lebhafte Diskussion zu den einzelnen Punkten islamischer Finanzwirtschaft, Wirtschaftstheorie und Empfehlungen zur Wirtschaftskrise enthält sie leider nicht.

Allianz has seen robust performance in Muslim markets

Allianz Indonesia grew by 8.5 % and is the fourth biggest life insurer in the country. In 2008 the MENA region has proven to be one of Allianz's growth powerhouses. Revenues from the region grew to 2.4 billion euros, an increase of 40 percent from last year. In Asia Pacific Property and casualty business (P&C) remains growth driver, unique opportunities to strengthen distribution.

Allianz offers conventional and Islamic coverage.

KuveytTürk aims to enter German retail market

KuveytTürk aims to cater for German Muslims from payment services to the whole range of Islamic finance products in the years to come. The application process for a financial services branch with both regulators is ongoing but not yet finished contrary to what media sources were reporting yesterday.

Deutsches Angebot / German Content

Hinweis für deutschsprachige Nutzer

Die Webseite ist auf Englisch und richtet sich an internationales Publikum. Für den deutschsprachigen Raum, bitten wir den folgenden Newsletter zu abonnieren, der Sie auf aktuelle Entwicklungen insbesondere bezüglich neuer Angebote hinweist:

Bitte schreiben Sie uns: Ihre E-Mail evtl mit dem Hintergrund Ihres Interesses

Literaturempfehlung

Suchen Sie Informationen auf Deutsch, wie Islamic finance arbeitet, welche Produkte es geben kann und wie diese strukturiert werden, so verweise ich auf das Fachbuch (zweite Auflage nun erschienen):

Gassner/Wackerbeck: Islamic Finance, Bank-Verlag, Köln.

und zu den steuerlichen Fragestellungen:

Leila Momen: Vertragsmodelle Islamic Finance, Bank-Verlag, Köln.

Rat und Tat

German: Vortrag - Ansätze in Europa zur finanziellen Einbindung von Muslimen

Der Vortrag zeigt vergleichsweise die Grösse und die Spezika des deutschen im Vergleich zum britischen Finanzmarkt für Muslime auf. Desweiteren werden Produktvorschläge, welche die Zielgruppe in Deutschland benötigt und Schlüsselbegriffe des Islamic finance erläutert. Ziel von Islamic finance ist somit die finanzielle Einbindung von Muslimen in Deutschland (financial inclusion).

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