Business and Other Briefings
UKT&I: Some of the UK's top financial services companies will descend on Bahrain from 23 to 25 November to showcase the UK's expertise in Islamic finance at the 15th World Islamic Banking Conference. The exhibitors will be hosted by UK Trade & Investment at the UK Pavilion.
A November 2007 report on 'Top 500 Islamic Financial Institutions', published by The Banker, rated the UK as the number one western destination for Islamic finance and 9th overall in the world.
Press release ~ UK Trade & Investment ~ Top 500 Islamic Financial Institutions - The Banker ~ The City UK at 15th World Islamic Banking Conference
DWP: Following discussions with stakeholders, employers will now be able to 'self certify' that their pension scheme meets the quality standard based on the expected value of pension contributions to be made over the course of each coming year.
The Bill states the quality standard for a money purchase scheme is that members receive contributions of 8% of qualifying earnings, of which 3% are made from the employer. The new minimum level of pension saving is due to come in to force from 2012. Rates for the General Levy and the PPF Administration Levy for 2009/10 will be frozen at this year's level to avoid putting additional cost pressures on pension schemes at the current time.