UK courts Islamic cash with Sharia compliant bonds - economy
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Britain is to become the first Western country to issue Islamic bonds. ... euronews, the most watched news channel in Europe Subscribe for your daily dose of international news, curated and explained:http://eurone.ws/10ZCK4a Euronews is available in 13 other languages: http://eurone.ws/17moBCU http://www.euronews.com/2013/10/29/uk-courts-islamic-cash-with-sharia-compliant-bonds Britain is to become the first Western country to issue Islamic bonds. The announcement was made at the World Islamic Economic Forum, in London. The bonds - known as sukuk - are investment certificates linked to assets or cash flow. They conform to Sharia law, which includes a ban on interest and gambling. Prime Minister David Cameron said around 200 million pounds (233 million euros) worth of sukuk will be issued by the government next year: "For years people have been talking about creating an Islamic Bond, or sukuk, outside the Islamic world, but it's never quite happened. Changing that is a question of pragmatism and political will, and here in Britain, we have got both. This government wants Britain to become the first sovereign outside the Islamic world to issue an Islamic bond." The idea is to stimulate Islamic investment in Britain. At the same time the London Stock Exchange announced plans to launch an Islamic index. It would identify and track businesses which are filtered according to religious principles, rejecting those are involved with things like alcohol or gambling. Cameron said: "Today the London Stock Exchange group is announcing the creation of new indexes. It is, if you like, a world-leading Islamic Market Index. It is another global first for the City of London and yet another reason why London can be one of the great centres of Islamic finance anywhere in the world." A UK government issued investment-grade sukuk would help British based Islamic lenders expand. They would be able to hold them in order to meet Bank of England regulations on liquidity. Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Comments
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All muslims who want rights should fuck off back to where they came from,david cameron gets gangbanged by muslims on a regular basis,he licks the crease of muslims from top to bottom,I wish someone would kill the sick bastard
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another global first !
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hahahaha ALLAHU AKBHAR. "ABU UK"
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Now we know why there are so many Salafists and Islamists (not those law-abiding citizens with Muslim faith or background) in UK...
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What a fu**ing joke.
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Fuck you Cameron. This country is a fucking joke!
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So - London is the financial capital of the Islamic world - am I alone in feeling quite impressed, not to say proud of that fact. I'm not islamic and in fact I think all religion is superstition but it's like the man says - pragmatism, if they want to pay us to look after their money and if they want to invest in our country, I'm struggling to find reasons to discourage them, in fact I would call that an opportunity.
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Traitors .....
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they are trying to fix their own economy,this has a chance of fixing their economy since the islamic finance system has been on the rise for the last decade,if they economy keeps getting worse UK will have to go back much farther than the middle ages maybe back into the old days where people had to hunt large mammoths to survive..
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No they mustn't
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All of that interest is only due a random chance of oil happening to be in thr gulf??
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No way, the Islamic economic principles must be used a meaningful platform in order to have healthy economy.
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wtf
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Wow. They're going back to the middle ages with smiles on their faces.
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Now you accept Islamic rules to run the economy.... i wonder !
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