Search results for

The world's leading Islamic finance lawyers, as voted for by their peers in the industry, are recognised here for the first time

Andrew Henderson and Antony Hainsworth of Clifford Chance outline issues surrounding the regulation of Islamic finance in the United Arab Emirates

Busy summer for DLA Piper Oliver Agha now on Aaoifi board Oliver Agha, DLA Piper's head of Islamic Finance, has been appointed to the Accounting and Auditing Organisation for Islamic Finance Institutions (Aaoifi) standards board. Agha is the only international lawyer on the board. In addition to this role, he will sit on the Governance Standards Committee. Formed in Algiers in 1990, Aaoifi has a membership of over 180 spread across 40 countries. Now based in Bahrain, the organisation is led by Mohomad Alchaar.

Nick Rucker of Lawrence Graham LLP explores planning and structural issues for ultra-high-net-worth families and individuals

Merger control in Macedonia is regulated by the Law on Protection of Competition (LPC). Its purpose is to ensure free competition on the domestic market in order to encourage economic efficiency and consumer welfare.

On June 18 2008, the Amendment to the Act on Specified Commercial Transactions and Installment Sales Act came into force. In Japan, the problem of fraudulent door-to-door sales is a serious social issue. In addition, there have been many problems stemming from internet advertising including unsolicited commercial email (spam), leaking confidential personal information and difficulties with returns and refunds. The amendment revises the laws to cope with these issues and enhance consumer protection. This amendment introduces several new regulations including: (1) a ban against re-soliciting business from customers who have already declined a door-to-door sale; (2) provisions allowing customers to cancel sales involving excessive quantities of products; (3) the strengthening of regulations and supervision of credit providers; and, (4) a ban against the sending of spam.

The law shows how much China wants to emulate western regulatory systems

Generally, under US federal income tax law, a foreign person's gain from the disposition of an interest in US real property is deemed to be effectively connected with a US trade or business. As a result, any such gain is subject to income tax at rates up to a maximum of 35% in the same manner as a US taxpayer. For this purpose, an interest in US real property includes any direct or indirect right to share in the appreciation in the value of real property. In addition, US source income received by a foreign person and not effectively connected with a US trade or business is generally subject to a flat 30% tax, although this rate may be decreased or eliminated by an applicable tax treaty or an exception under domestic US tax law. In contrast, non-US-source income received by a foreign person (such as income derived in respect of most swaps) is generally exempt from US federal income tax. Until recently, it was unclear whether income derived in respect of a swap on US real estate interests should be exempt from US tax.

Singapore Press Holdings (SPH), Singapore Exchange (SGX) and FTSE Group launched the revamped Straits Times Index (STI) as well as 18 other new indices of the FTSE ST Index Series on January 10 2008.

On June 27 2008 Government Ordinance 85/2008 concerning incentives granted to investors by the Romanian authorities came into force, being published in the Romanian Official Gazette and replacing Law 332/2001, which previously governed investments with a large effect on the national economy.