Onislam - CAIRO – A decision by the UK government to put on hold earlier plans for the first Islamic sovereign bond from a western country was criticized as a setback for the initiative that could have provided more security to a shaking economy.
“It would certainly help the UK market if the government decided to go ahead with a benchmark sukuk,” Farmida Bi, partner at Norton Rose, the law firm, told the Financial Times.
“It could galvanize the market and would lead to more interest in Islamic finance in London and [continental] Europe.” (source)
