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Islamic finance forbids interest payments, and transactions often require multiple title transfers of underlying assets, which can trigger double or even triple tax charges.More than 20 firms, including Gatehouse Bank, Bank of London and The Middle East, Abu Dhabi Islamic Bank and Qatar Islamic Bank offer Islamic financial products in Britain.The country has previously addressed the adverse tax treatment for Islamic bonds and residential mortgages, helping Islamic banking assets reach more than 5 billion pounds (almost $6.7 billion) in 2016, while London has attracted over 65 listings of Islamic bonds worth a combined $48 billion, lobby group TheCityUK said.Abu Dhabi Islamic Bank is working on a new home finance product, while Bank of London and The Middle East is expanding its wealth management business.
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