UK Government Announces Intention to Issue Second Sovereign Sukuk; Appoints Lead and Co-Lead Managers

The United Kingdom (UK) Debt Management Office (DMO) has announced its intention of issuing the country’s second sovereign Sukuk in the near future on behalf of HM Treasury, which is the UK Government’s Economic and Finance Ministry, according to a DMO statement issued on the 22nd of March 2021.

Why it matters?

The issuance will be UK’s second sovereign Sukuk, following its debut issuance in June 2014. The second sovereign Sukuk was originally planned to be issued in early 2020 prior to the COVID-19 pandemic, but was put on hold. Similar to the first issuance, the new sovereign Sukuk will not be part of the UK Government’s normal debt management policy, but will be used to deliver wider benefits such as reinforcing London&rsqu...