Monday, April 23, 2007

U.K. Government May Sell First Islamic Bonds to Woo Middle East Oil Money

(Bloomberg) -- The U.K. may sell its first-ever Islamic bonds to help bring a larger share of the world's $250 billion Shariah-compliant financial markets to London.

The Debt Management Office and U.K. Treasury will publish a study by the autumn on the bond sales, Treasury Minister Ed Balls will say today. Such debt is structured to avoid breaking Islamic law, or Shariah, which forbids payment of interest.


Read more at Bloomberg Bonds News

No comments: