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1139296

registered interest
date	16/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Securities: Islam
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to his Mansion House dinner speech on 20 June 2019, what his timeframe is for his Department to issue a second sovereign sukuk; and if he will make a statement.
tabling member constituency	Kilmarnock and Loudoun
tabling member printed	Alan Brown
uin	277780
answer	answer is ministerial correction date of answer 22/07/2019 answer text <p>Over the coming weeks the relevant teams at HM Treasury will work with the Debt Management Office and other officials on formulating the procurement process for the appointment of structuring and legal advisers. A specific timetable has not yet been determined for this. Further announcements, including on the timing of the issuance, will be made in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 277615 question first answered 22/07/2019 13:58:59 answering member 4051 label Biography information for John Glen
tabling member	4470 label Biography information for Alan Brown

1139297

registered interest
date	16/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Islam
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment the Government has made of the potential merits of using sukuk to finance infrastructure projects; and if he will make a statement.
tabling member constituency	Kilmarnock and Loudoun
tabling member printed	Alan Brown
uin	277781
answer	answer is ministerial correction date of answer 22/07/2019 answer text The proceeds from the Sukuk, like the proceeds from the wider gilt programme, flow into the consolidated fund. This is used for general expenditure, including expenditure on infrastructure. The government considers the core gilt program rather than the Sukuk to be the most cost-effective way of raising money for expenditure, including that of infrastructure projects. The main purpose behind the decision to issue a second Sukuk is to reaffirm the government’s commitment to the UK being the Western hub for Islamic finance, whilst also providing high-quality liquid assets to UK-based Islamic banks. answering member constituency Salisbury answering member printed John Glen grouped question UIN 277616 question first answered 22/07/2019 14:01:35 answering member 4051 label Biography information for John Glen
tabling member	4470 label Biography information for Alan Brown