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Government Securities: Islam

Volume 467: debated on Thursday 22 November 2007

To ask the Chancellor of the Exchequer when he expects to introduce a sharia-compliant government bond. (167333)

The Treasury and Debt Management Office published a consultation document “Government Sterling Sukuk Issuance” on 14 November, with a deadline for responses of 21 February 2008. This document is available in the House Library and on the Treasury’s website at http://www.hm-treasury.gov.uk/media/6/C/consult_sukuk141107.pdf Following the consultation, the Government will consider the responses and announce a decision on the possible issuance of wholesale sterling denominated sukuk and next steps including the timetable for any primary legislation.