LANGUAGES

Entries in English and Malay (Bahasa Melayu)

Friday, 13 June 2014

Islamic Finance: UK Government Launching £200m Sukuk

Britain will launch the world's first non-Muslim government sukuk – an Islamic bond – within weeks, said Chancellor George Osborne.
The £200m (€250m, $339m) issuance will have a five year maturity. It will make payments based on rental income from government-owned properties rather than interest. Making money from interest – usury – is forbidden in Islam.
"It is with these active steps that together we are making Britain the undisputed centre of the global financial system," said Osborne in a City of London speech.
Prime Minister David Cameron had revealed that work was in progress to create a UK sovereign sukuk in a speech at the World Islamic Forum in London during October 2013, the first time the event was held outside of a Muslim state.
A UK government sukuk is a part of its effort to become a Western hub for Islamic finance. Attracting more investment from Muslims across the world is a lucrative opportunity for the UK.
Much of the large infrastructure projects in the UK, such as The Shard, have been funded by wealthy Muslims.
As well as a sukuk, the government has worked to create a banking infrastructure that is more accommodating to Islamic finance. This includes Muslim-friendly mortgages and student loans.
(International Business Times / 13 June 2014)
---
Alfalah Consulting - Kuala Lumpur: www.alfalahconsulting.com
Consultant-Speaker-Motivator: www.ahmad-sanusi-husain.com
Islamic Investment Malaysia: www.islamic-invest-malaysia.com

No comments:

Post a comment

Latest Posts

Upcoming Events on Islamic Finance, Wealth Management, Business, Management, Motivational

Alfalah Consulting's facebook

NOTICE

Alfalah Consulting is NOT providing any kind of loan to finance project etc and asking for a fee. If you've received any email claiming to be from Alfalah Consulting, offering loan to you, please ignore it or inform us for further actions. Our official email is info@alfalahconsulting.com. If you've received an email from afalah.consulting@gmail.com, that's NOT from us. Be cautious!