The UK Issues GBP 500 Million in Second Sovereign Sukuk Sale; Strong Demand from Investors

The UK Government has issued GBP 500 million worth of Shariah-compliant sovereign bonds with a five-year maturity in the country’s second sovereign Sukuk issuance, according to a statement released by the HM Treasury on the 25th of March 2021. The Sukuk has received strong demand from investors based in the UK and from major hubs for Islamic finance in the Middle East and Asia.

Why it Matters?

This marks UK’s second sovereign Sukuk issuance, which was more than twice the size of the country’s first sovereign Sukuk issuance of GBP 200 million in 2014. According to Rishi Sunak, Chancellor of the Exchequer, the launch of the second sovereign Sukuk will cement the UK’s position as the leading glob...