Cameron Announces U.K. Plans for Debut Issue of Islamic Gilts
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Prime Minister David Cameron said the U.K. plans to become the first country outside the Muslim world to sell a Shariah-compliant bond as soon as next year.
Cameron laid out his government’s intentions in a speech to the World Islamic Economic Forum in London. The Islamic bonds, known as sukuk, would be valued at about 200 million pounds ($320 million). Cameron also said London Stock Exchange Group Plc is creating an Islamic market index.