Britain plans to issue Shariah law-compliant bonds

By JERUSALEM POST STAFF
Britain's Treasury is likely to back plans to issue Shariah law-compliant bonds, officials said Sunday - amid continuing debate about the application of Islamic laws in the UK. Treasury chief Alistair Darling, who will present his annual budget on March 12, plans to issue the Islamic bonds, known as sukuk, to tap into a fast-growing market in the products. "We want the City of London to be one of the gateways globally for Islamic financial products," a Treasury spokesman said. "Just because of your faith, there shouldn't be any issue about your access to financial services in the UK," he said.