On 12 June 2014, HM Treasury announced that the UK intends to issue sovereign Sukuk, the Islamic equivalent of a bond. Subject to market conditions, the government intends to issue £200 million sterling Sukuk over the next few weeks. The UK sovereign Sukuk will have a maturity of five years and will use the most common structure, Al-Ijara.

The HM Treasury press release is available at:

https://www.gov.uk/government/news/britain-set-to-become-first-western-nation- to-issue-a-sovereign-islamic-bond.