82 Islamic Finance in Practice
- Does the transfer of property or property interests into and out of the
partnership or joint venture trigger any transfer or documentary taxes or
value-added or sales tax?; - What operational liability issues attach to the Islamicfinancialinstitution
being a partner owning the project?; and - Would any critical documents (such as concession agreements) be capable
of being terminated by the grantor if they had to be transferred to the
musharaka?
The resolution of these issues is sometimes not easy, especially if there
are cross border matters to consider.