Pi magazine Nov 2013

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The Islamic Bond Dawn of a New Era

Issue: 68 - www.pi-media.co.uk - Nov 2013

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In a blaze of publicity PM David Cameron announced the launch of the Islamic bond (sukuk) at the World Islamic Economic forum in London this week. The British government has envisaged the creation of a global Islamic finance hub for a considerable period of time since former PM Gordon

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Brown boldly declared that he wanted London’ to become the undisputed ‘Islamic finance capital of the world’ with the aim of competing with Dubai and Kuala Lumpur for this prestigious accolade. It has been said that the Islamic investment sector has become a

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lucrative one in recent times. Statistics show that since 2006 that there has phenomenal growth in this area so much so that the estimated value of these products is worth a staggering £1.3 trillion pounds and the success story is set to continue. It is not surprising to see that PM David Cameron has stressed Continued on page 3

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Pi magazine Nov 2013 by Shakir Ahmed - Issuu