Britain offers the second version of Islamic bonds



Britain’s debt management office said on Monday that it is inviting banks to help sell the country’s second sovereign sukuk.

Britain became the first western country to issue Islamic bonds in 2014, when it raised 200 million pounds ($ 260 million) from a 5-year issue in which IPO applications were 10 times the offer, according to Reuters.

London is seeking to become the most important global market for financial services, as the country prepares to leave the European Union.

Britain is also seeking to review the way the country’s financial regulatory agencies operate in an effort to protect the competitiveness of the financial sector while Britain withdraws from the European Union.

The British Ministry of Finance said months ago that it was responding to calls from companies to coordinate the introduction of new rules and manage the effects of regulatory changes from various agencies.


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