LONDON, March 22 (Reuters) - Britain will launch a five-year
Islamic sukuk bond in the coming weeks, the United Kingdom Debt
Management Office said on Monday, following up on a previous
five-year issue which took place in 2014 and raised 200 million
pounds ($277 million).
The DMO said HSBC, CIMB Investment Bank
, Dubai Islamic Bank, Emirates NBD Capital
and Standard Chartered would act as joint
lead managers for the syndication.
Britain in June 2014 was the first Western country to launch
a sukuk bond, as part of then-finance minister George Osborne's
efforts to make London a hub for Islamic finance.
The bonds use an al-Ijara structure under which rental
payments from property replace the interest payments from a
standard government bond.
($1 = 0.7216 pounds)
(Reporting by David Milliken; Editing by Kate Holton)