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Communiqués de Presse |
Press Releases
26.12.2008
Involvement of CMS Bureau Francis Lefebvre in Islamic Finance Think Tank
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Jean-Yves Charriau, who has been working for 2002 on Islamic finance
transactions, has taken part in this Think Tank, under the aegis of
Paris Europlace and of the Ministry of Finance, and with the Fiscal
Legislation Division, to adapt French tax rules in order to better
specify, in a perspective favourable to Islamic investors, the fiscal
consequences of these operations ['murabaha' and 'sukuk' and other
indexed financing].
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Several administrative forms have been published in this sense on 18
December 2008 and have given rise to a communication (see below) by the
Ministry of Finance and Paris Europlace.
Release (extracts)
Islamic Finance
In order to make the French Finance Place an international place of
first rank in the matter of Islamic finance, Christine Lagarde has
announced measures intended to promote Islamic finance in France. These
measures follow the disclosure on last 8 December of Paris Europlace
Report on this topic.
Christine Lagarde has emphasized that 'the disclosure and the on-line
of fiscal 'rescrits' (rescripts) related to sukuk and murabaha
transactions at last will enable to bring to investors and operators
the legal and fiscal certainty needed to the development of those
Islamic finance transactions in France'.
On that occasion, Christine Lagarde reminded: 'France is open to the
establishment of Islamic finance banks on its territory'. Christine
Lagarde also has announced she will submit soon to opinion
modifications of the legal scheme of trust in order to ease its use for
Islamic finance.
For further explanation about these measures, please visit Internet website of the Ministry of Finance:
For further information, please contact:
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