Non-Muslims tap sukuk market | GulfNews.com:
"This has been a banner year for the Islamic finance industry, thanks to a slew of new high-profile Islamic bonds from an unusual source: non-Muslim governments in Europe, Asia and Africa.
The UK won the race to be the first government from the western world to tap the fast-growing market for so-called sukuk, by structuring and selling a £200 million Islamic bond in June. It was followed by Hong Kong, South Africa and Luxembourg.
These non-Muslim countries have not chosen the arduous, complex task of issuing debt-like securities that adhere to Sharia due to their religious beliefs."
'via Blog this'
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