News Lawyers cheer Budget’s Islamic finance provisions By The Lawyer 12 March 2008 16:14 14 December 2015 02:09 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Michael Halford, corporate partner SJ Berwin 13 March 2008 at 09:14 Islamic finance / budget Tax relief for alternative finance investment bonds is good news for the burgeoning market for Islamic Finance in the UK and for the economy as a whole. As anticipated, the Chancellor has announced changes to close an existing loophole in the rules. This relates to the acquisition of real estate using sharia’s financing arrangements, which had been applied by commercial real estate investors to avoid paying stamp duty land tax. The closing of the loophole should not impact upon the development of the Islamic Finance market in the UK. Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.