Britain Looking At Issuing Shariah-Compliant Bonds; London Stock Exchange Islamic Index

In a press release last week (Oct. 29), The Prime Minister's Office in Britain announced plans for a new Islamic index on the London Stock Exchange, as well as hopes for Britain to become the first country outside of the Islamic world to issue an Islamic bond.  In an Oct.29 speech (full text) to the World Islamic Economic Forum held in London, Prime Minister David Cameron said in part:

Already London is the biggest centre for Islamic finance outside the Islamic world.  But today our ambition is to go further still.  Because I don’t just want London to be a great capital of Islamic finance in the Western world.  I want London to stand alongside Dubai and Kuala Lumpur as one of the great capitals of Islamic finance anywhere in the world.

[Thanks to Alliance Alert for the lead]