Cameron to announce Islamic index for London Stock Exchange
British Prime Minister David Cameron was on Tuesday to announce plans for an Islamic index on the London Stock Exchange, as part of the government's plans to establish the city as a world leader in Islamic finance, dpa reported.
On the opening day of the World Islamic Economic Forum, the premier is also to announce that Britain will become the first non-Muslim country to issue Islamic bonds, known as sukuk.
The index will identify companies compliant with Islamic sharia law, which forbids the charging of interest and involvement in businesses dealing in alcohol or gambling.
Around 15 world leaders, including Pakistan's Prime Minister Nawaz Sharif and the Malaysian Prime Minister Najib Razak, are to attend the economic forum, which is being held in a non-Muslim country for the first time since its foundation in 2006.