From Bloomberg: The U.K. may allow bonds that comply with Islamic law to be treated the same way as conventional debt securities in a bid to boost Britain’s share of the $97 billion worldwide market for sukuk.
The U.K. Treasury and Financial Services Authority propose that so-called sukuk should be exempt from some regulations covering group investment plans and should be forced to publicly trade as listed securities, according to a paper published today. Sukuk are Sharia-compliant bonds that are based on an underlying asset like property and which forbid the payment of interest. …. Full Article: Source