Islamic finance—cross border guides

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Sustainable finance and ESG weekly round–up—21 November 2024

This week's edition of the Sustainable finance and ESG weekly round-up from the Finance Group includes: (1) ICC issues guidance on successful Carbon Pricing, (2) COP29 round up, and (3) ESAs issue ‘Fit-For-55’ climate scenario analysis results.

Banking and Finance weekly highlights—21 November 2024

This week's edition of Banking and Finance weekly highlights includes: (1) the decision in Kireeva v Bedzhamov where the Supreme Court has unanimously dismissed Ms Kireeva’s (Russian bankruptcy trustee’s) appeal to overturn the Court of Appeal’s’ decision; (2) HMLR announces changes to addresses for business customers; and (3) HMT consults on the case for a UK Green Taxonomy.

IOSCO issues consultation report on pre-hedging practices and regulatory recommendations

The International Organization of Securities Commissions (IOSCO) has published a consultation report on pre-hedging practices, seeking feedback on its proposed definition and recommendations, to guide regulators in determining acceptable practices and managing associated conduct risks. Additionally, IOSCO requests feedback on whether the recommendations need to be adapted to specific circumstances, such as potential differences in pre-hedging practices and internal non-electronic transactions, as well as in the context of electronic trading, including competitive requests for quotes (RFQs). Responses are sought by 21 February 2025.

BCBS reaffirms expectation of implementing Basel III and advances banking supervision initiatives

The Basel Committee on Banking Supervision (BCBS) met in Basel on 19–20 November 2024 and unanimously reaffirmed its expectation of implementing all aspects of the Basel III framework in full, consistently and expeditiously. Such a commitment was also recently reiterated by G20 Finance Ministers and Central Bank Governors.

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The structure and required elements of a murabaha Transaction

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The structure and required elements of a murabaha Transaction

The structure and required elements of a murabaha Transaction

The structure and required elements of a murabaha TransactionMurabaha is both one of the most widely used and controversial Islamic finance techniques. Murabaha (often referred to as ‘cost plus profit financing’) involves a minimum of three contract parties and lends itself readily in trade finance

Structure and key features of an Ijarah transaction

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Structure and key features of an Ijarah transactionA Shari’ah compliant leasing agreement takes the form of an ijarah which can either be akin to an operating lease, whereby the asset is returned to the lessor at the end of the rental period (much like hiring a car), or a finance lease, whereby the

The required elements and structure of takaful

The required elements and structure of takaful

The required elements and structure of takafulTakaful is the provision of risk-cover conducted in line with the principles of Islamic law (Shari’ah). It offers a unique and important alternative to conventional insurance for meeting the insurance needs of many Muslims throughout the world. For a

Murabaha documentation and transaction mechanics

Murabaha documentation and transaction mechanics

Murabaha documentation and transaction mechanicsA basic murabaha and a commodity murabaha arrangement can both be structured to facilitate a single transaction, or to operate on a revolving basis so that several transactions can be entered into under the same facility. For more information, see