This news almost makes me happy that much of the USA’s debt is in Japan’s hands.
British government plans to issue Islamic bonds
The British government is looking into issuing its first Sharia-compliant bond in a bid to boost London’s position as a centre for Islamic finance, Treasury minister Ed Balls said yesterday.
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Europe’s first Islamic bond was issued by the German state of Saxony-Anhalt in 2004. Since then several corporate and government-backed agencies have tapped the market.
Britain has taken a number of steps to raise its profile in the sector, such as adjusting tax regulations to enable Islamic bonds, or Sukuk, to be issued, held and traded in the same way as corporate issuance.
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How long before some Islamic terrorist front group uses returns from British debt to bank roll terrorist activity in the UK?
