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Britain issues £500m sovereign sukuk

28 March 2021: Britain issues £500m sovereign sukuk

LONDON: The British government has issued £500 million ($686.85 million) worth of Shariah-compliant sovereign bonds — seven years since it made history as the first country outside the Muslim world to issue a sovereign sukuk.

The Treasury said on Thursday that “£500 million of sukuk, the Islamic equivalent of a bond, has been sold to investors based in the UK and in the major hubs for Islamic finance in the Middle East and Asia.”

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