{"id":469,"date":"2013-10-29T21:49:23","date_gmt":"2013-10-29T21:49:23","guid":{"rendered":"http:\/\/english.thesunrisetoday.com\/?p=469"},"modified":"2013-10-29T21:49:23","modified_gmt":"2013-10-29T21:49:23","slug":"london-aims-to-stand-alongside-dubai-as-islamic-finance-hub","status":"publish","type":"post","link":"https:\/\/english.thesunrisetoday.com\/index.php\/london-aims-to-stand-alongside-dubai-as-islamic-finance-hub\/","title":{"rendered":"London aims to \u2018stand alongside Dubai\u2019 as Islamic finance hub"},"content":{"rendered":"

\"WIEF\"<\/a>The British Prime Minister David Cameron wants London to \u2018stand alongside Dubai\u2019 as an Islamic finance hub, and is today expected to launch two initiatives to tap into the burgeoning sector.
\nAn Islamic Market Index is set to be launched on the London Stock Exchange, while Britain is to become the first country outside the Muslim world to launch a sukuk, or Islamic bond, AFP reported.
\n\u201cI don\u2019t just want London to be a great capital of Islamic finance in the Western world,\u201d Cameron is due to say today, according to the Associated Press. \u201cI want London to stand alongside Dubai as one of the great capitals of Islamic finance anywhere in the World.\u201d
\nLondon is already the \u201cbiggest center for Islamic finance outside the Islamic world\u201d, according to a release of a speech Cameron is due to deliver today.
\nThe proposed Islamic Market Index would track Shariah-compliant investments, while the UK Treasury is working on the issuance of a sukuk worth around \u00a3200 million ($322 million), AFP reported.
\nCameron\u2019s announcements are expected to be delivered at the World Islamic Economic Forum, which starts today in London. It is the first time the forum is being held outside a Muslim country.
\nDubai this month unveiled plans become the capital of the global Islamic economy, with a focus on financial services, food products, education and tourism.<\/p>\n

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