We need to take appropriate measures to solidify our position in the Canadian market; we can’t afford to lose our strong companies, and those of long standing. However we must begin a deliberate campaign to diversify the countries that use our international financial centre, to reap the benefits of our network of double taxation agreements.
As you know, the main prescriptions relating to financial transactions in accordance with Islamic religious law are the ban on paying interest and the prohibition of excessive uncertainty and speculation in contractual arrangements. This is predicated on the principle that profits should be generated from fully sharing in the business risk of an investment (the so called “profit and loss sharing principle”).