Excerpt:

The U.K. government is considering reviving plans to sell Islamic bonds as part of an initiative to boost Britain's role as a center for Shariah-compliant financing.

Treasury Minister Greg Clark and Sayeeda Warsi, a minister in the foreign office, are leading a working group to raise the profile of the Islamic finance industry, the Treasury said in an e-mailed statement today. Among items discussed at today's inaugural meeting was the sale of Islamic bonds, said Shabir Randeree, chairman of DCD London & Mutual Plc in London and a member of the taskforce.

"What we will be looking at is whether a sovereign sukuk or an infrastructure type of instrument will be more appropriate," Randeree said in a telephone interview from London.


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