IDB President, UK Minister Discuss UK's Growing Role in Islamic Finance

The President of the Islamic Development Bank (IDB), Dr Ahmad Mohamed Ali, and the UK Senior Minister of State for the Foreign & Commonwealth Office, Baroness Warsi of Dewsbury, view positively the fast growth of Islamic finance in the UK. During a visit to the IDB headquarters in Jeddah, Baroness Warsi told the IDB President that significant progress has been achieved by the UK Government in terms of Islamic finance. The UK is close to issuing its first sovereign sukuk which will possibly be issued by mid-2014, she said. Dr Ali and the Minister reiterated their commitment to the growing IDB-UK partnership in the area of development assistance and the economic empowerment of women. They also agreed to explore potential partnership opportunities in the development of Awqaf.