The united kingdom attracted strong demand for its debut sukuk last week - the first Sharia-compliant bond issue from a sovereign outside the Muslim world. The success of the deal, which the UK government hopes will put London on the Islamic finance map, was driven by investors hungry to get their hands on highly rated sterling-denominated Sharia-compliant paper. "The success of this bond will undoubtedly act as a catalyst for future sukuk issuance, not just from the UK but from the West more broadly," said Spencer Maclean, head of syndicate West at Standard Chartered, one of the lead managers on the deal.
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