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United Kingdom : Britain set to become first western nation to issue a sovereign Islamic bond

June 13, 2014



UK to become the first country outside the Islamic world to issue sovereign Sukuk.

The Chancellor has today declared the UK s intention to become the first country outside the Islamic world to issue sovereign Sukuk, the Islamic equivalent of a bond.

This will deliver on the Prime Minister s announcement at the World Islamic Economic Forum in London last October.

It is part of the government s long term economic plan to establish the UK as the undisputed centre of the global financial system, and builds on the action the government has already taken to develop the UK as a hub not only of Islamic finance, but Chinese finance too.


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Source: TendersInfo (India)


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