Thai Islamic Bank head: Thai government may issue sukuk in 2011 after law change
Approval of new tax structures to facilitate sovereign Islamic bonds based on real estate holdings expected soon
The Thai government will have the regulatory framework ready for the issuance of sovereign sukuk as early as next year, according to the head of the Islamic Bank of Thailand.
Thailand's Securities and Exchange Commission (SEC) is scheduled to approve new guidelines on December 19 that will see the removal of government land sales taxes, which until now have been incurred in sukuk structures. These taxes have made sharia-compliant debt instruments more expensive for issuers than conventional
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