UK boosts Islamic finance with second sovereign sukuk

The UK government has issued £500m of sukuk seven years after becoming the first country in the western world to issue sovereign Islamic bonds. The treasury said the sukuk had been sold to investors based in the UK and in the major hubs for Islamic finance in the Middle East and Asia. This latest issue will settle on 1 April 2021 and will be listed on the London Stock Exchange. Chancellor of the exchequer Rishi Sunak said: "We've set out ambitious plans to make the UK the most open and dynamic financial centre in the world. "By launching our second sovereign Sukuk, we're cementi...