It has almost become a ritual that there has to be some sort of announcement either by the government, regulator or a financial institution at international conferences on Islamic finance.
Singapore is no exception. Not surprisingly, Lim Hng Kiang, Minister for Trade and Industry, who is also the Deputy Chairman, Monetary Authority of Singapore (MAS) (the financial regulator), announced a few days ago at one such conference in the island state that Singapore will in due course issue new income tax regulations for Islamic finance to provide greater tax clarity and certainty to the industry. Full story
