Cyprus  
Egypt  
France  
Italy  
Portugal  
Spain  
Thailand  
Turkey  



Home > Overseas Property News

Sharia law enters France



Country:  France

7 May 2009

France has overhauled elements of its domestic tax law in a move that will allow the rules of Islamic finance to be followed without attracting tax penalties, therefore viewed by the tax authorities in the same way as their western counterparts.

The term ‘Islamic finance’ pertains to the ways that business and personal financial matters are handled while respecting Sharia law. Sharia forbids gambling and interest and so many of the transactions which are regarded as normal to conventional financial institutions – ranging from mortgages to interest bearing savings accounts to insurance – have to be structured differently and can in the process attract a tax penalty.

One of the first companies to benefit from France’s radical reform to its stance on Islamic banking is Islamic Finance Advisory and Assurance Services (IFAAS), a UK-based consultancy specialising in providing advisory & training services to financial institutions in Sharia compliance.

Managing director of IFAAS, Mohammad Farrukh Raza, says: “France, with its Muslim population and its particularly strong ties to the Arab world, provides a vast opportunity for organisations looking to develop their Islamic Finance offering. In addition to this, France is one of the world’s leading economies and is an attractive place for investment from around the world.”

France has a Muslim population of six to seven million people, the largest in Western Europe.


See Also:   France


<< Previous News item
Within France
With tag "France"
Next News item >>
Within France


Some properties in France

Ref 1895369, Ile-de-France, Paris, France

Ref 1895369, Ile-de-France, Paris, France

Price: £6,793

Type: Apartment

Exceptional low risk investment with low entry costs and government backed Leaseback for 11 years and 19.6% VAT rebate from the developer making the initial investment only €10,400


Ref 1895371, Ile-de-France, Paris, France

Ref 1895371, Ile-de-France, Paris, France

Price: £6,793

Type: Apartment

Exceptional low risk investment with low entry costs and government backed Leaseback for 11 years and 19.


Ref 1867163, Poitou-Charentes, Charente, France

Ref 1867163, Poitou-Charentes, Charente, France

Price: £12,137

Type: House

Bedrooms: 2

Nearly 1ha of Oak woodland, with road access. - Large flat plot of mainly Oak woodland, with some good size trees. Accessed from the road and chemins. Will keep you in firewood for years..


Ref 1867306, Poitou-Charentes, Vienne, France

Ref 1867306, Poitou-Charentes, Vienne, France

Price: £13,587

Type: House

Bedrooms: 2

Little pied--terre to renovate in a peaceful hamlet - In a quiet hamlet about two miles from the nearest village, this property has the potential to be something special.


Ref 360818, Centre, France

Ref 360818, Centre, France

Price: £20,833

Type: House

15 min in the South of La Chatre, this country house is with retaured. It is composed of 2 rooms, lime pit foot, with beams, stone slabs on the ground and chimney. Suitable attic above. The walls and roof are in good condition.


Ref 1867321, Aquitaine, Dordogne, France

Ref 1867321, Aquitaine, Dordogne, France

Price: £23,550

Type: House

Bedrooms: 2

Superb Building Plot of 4704 m² With Valid CU & Beautiful Open Views in Dordogne Hamlet - This very attractive building plot of more than an acre of land has recently been granted an outline planning permission, with water, electricity and


Ref 1867270, Poitou-Charentes, Charente, France

Ref 1867270, Poitou-Charentes, Charente, France

Price: £23,550

Type: House

Bedrooms: 2

Building plot in a pretty village with outline planning permission in Alloue in the Charente - This plot of land is set in a very pretty village in the Charente near to Confolens.


Ref 314584, Centre, France

Ref 314584, Centre, France

Price: £23,731

Type: House

20 minutes South-East of La Chatre, this barn of approximately 60 m on the ground is to be rehabilitated. It offers a beautiful potential of installation to you. Outbuilding in bad condition on a side, boxroom and baker s oven of the other.


Ref 314575, Centre, France

Ref 314575, Centre, France

Price: £25,697

Type: House

10 min of La Chatre, this building, which is to be restored, offers a beautiful potential of installation to you. It is currently composed of a room, barn, stable and attic above. Courtyard in front.


Ref 1383901, Provence-Alpes-Cote dAzur, France

Ref 1383901, Provence-Alpes-Cote dAzur, France

Price: £26,902

Type: Apartment

Bedrooms: 2

Property Description: Great little apartment in Grimaud with fantastic views.
Newly refurbished and direct from the owner.
For more information please ring French Office or Berlin Office.


featured properties

Prices from: €156,000

Bedrooms: 1, 2, 3, 4

Cohennoz: Great year round location. Mountain lifestyle, easy access to one of the best Alpine skiing areas.

More

Prices from: €179,000

Bedrooms: 1

Domaine de Cramphore: 400m from 9km of sandy beach. Near to golf, tennis, horse riding and water sports.

More

Price: €795,000

3 Beds. 1 bath, 1 shower

Exquisitely restored. 13 ha of private grounds. Sweeping lawns edged by woodland. Children’s play area, heated pool.

More

Prices from: £216,209

Bedrooms: 1 & 2

Belle Plagne, Savoie. Ski-in, ski-out. Fully furnished, fitted kitchens, spacious lounge area, ski locker.

More

Prices from: €232,000

Bedrooms: 2, 3 & 4

Apartments & townhouses on Severiano Ballesteros designed Pont Royal Golf Course between Aix-en-Provence & Avignon.

More

Price: €220,000

Bedrooms: 2

Place de Republique: Magnificant! Tile floors, chimney, mouldings & rosettes in an exceptional location.

More