UK’s slow sukuk plan puts Luxembourg in lead
The United Kingdom appears to have conceded defeat to tiny Luxembourg in the race to issue Europe’s first sovereign sukuk, Islamic finance practitioners said this week after it emerged that the UK deal is unlikely before October, writes Dan Alderson.
Although the UK government plans to make an announcement on its inaugural deal before July, according to a source with knowledge of the situation, it will look to the fourth quarter to issue. HSBC is frontrunner to arrange the deal, they added.
“If the UK’s October timeframe is
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.