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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Compliance, Tax, Legal, Regulatory more

UK govt pushes ahead with sukuk law despite launch delay

Posted on 09 December 2008

From Arabnews.com: Bankers in London were disappointed by last-week’s announcement by British Chancellor of the Exchequer Alistair Darling in the Pre-Budget Report (PBR), He said that the UK Treasury would not be issuing a debut sovereign sukuk (Islamic securities) in the wholesale sterling market at the present time.

However, some Islamic bankers in the City advise that given the current financial crisis and the recession in the UK, the Treasury’s action is perhaps understandable and should not be construed as the Brown government’s getting cold feet in its commitment to issuing a sukuk or toward developing Islamic finance in the UK. …. Full Article: Source

 
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