Linklaters wins role on UK Government's debut Islamic bond issue
Linklaters has scored a role advising on the UK's first Islamic bond issue, which could take place as early as this year. Government body HM Treasury has appointed the magic circle firm as its legal adviser, while HSBC has been named as the economic and finance ministry's financial adviser.
January 31, 2014 at 05:54 AM
2 minute read
Linklaters has scored a role advising on the UK's first Islamic bond issue, which could take place as early as this year.
HM Treasury has appointed the magic circle firm as its legal adviser, while HSBC has been named as the Government's financial adviser.
City capital markets partner Elaine Keats will lead the Linklaters team, flanked by lawyers from the Dubai office, including global Islamic finance head Neil Miller and capital markets partner Richard O'Callaghan.
Prime Minister David Cameron (pictured) revealed plans for the UK to become the first non-Muslim country to launch a sukuk in a speech to the World Islamic Economic Forum last October. He also unveiled a new Islamic index on the London Stock Exchange.
At the time Cameron outlined a plan for the UK to offer a £200m Islamic bond early this year.
Miller said: "The UK is highly regarded for the market-leading work it has done to level the playing field for Islamic finance. The Islamic banks operating in London have come through the financial crisis and are investing in the country.
"A UK sovereign Sukuk will demonstrate further government commitment to alternative finance and help secure more inward investment from the Middle East."
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