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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves more

U.K. cancels Sukuk, focus on economic growth

Posted on 17 January 2011

From Bloomberg: The U.K., Europe’s largest market for Shariah-compliant financial products and services, canceled what would’ve been the first sale of sovereign Islamic bonds by a Western federal government as issues fell 15 percent in 2010.
“The U.K. government has decided not to issue sovereign sukuk because it is judged not to provide value for money,” a spokesman for the U.K. Treasury in London, said in an e-mailed response to questions Jan. 13. “It will keep the situation under review.”………………………………………Full Article: Source

 
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