British Surprise: UK announces sukuk plans. 

World Islamic Economic Forum comes to Dubai
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Yes, I know it’s a picture of David Cameron from last year’s conference in London.  That was him telling the world London was open for Islamic business, and proving it by announcing the issuance of a £200 million sovereign sukuk.

It was once again the turn of the British to deliver the surprise at this year’s World Islamic Economic Forum in Dubai.  This time it was Andrea Leadsom, Economic Secretary to the Treasury, announcing to delegates that the UK would soon be guaranteeing sukuk on export credit transactions. In addition, the Bank of England will soon be offering a long overdue and much needed Shari’a compliant liquidity facility for Islamic banks.

However even though WIEF is a unique gathering of individuals who are influential in the Islamic economy – and...