UK triple A downgrade raises sovereign sukuk focus, says Norton Rose

27 Feb 2013

Last week’s cut of the UK’s triple-A credit rating by Moody’s is likely to bring the issue of a UK sovereign sukuk back into the spotlight, according to law firm Norton Rose.

"The global Islamic finance industry has been waiting for a number of years for a UK sovereign sukuk, principally due to investors' desire to hold triple A rated paper, especially from Islamic banks who need it for capital adequacy purposes,” said Farmida Bi, partner and European head of ...

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