Bishop fears sharia bonds pave way for more Islamic law
Dr Michael Nazir-Ali, the former bishop of Rochester, warns plans by David Cameron to issue a sharia-compliant bond could have “unforeseen consequences”– The Telegraph
David Cameron’s plans to issue sharia-compliant bonds open the way to Islamic law being enforced at the heart of government, a senior clergyman has warned.
Dr Michael Nazir-Ali, the former bishop of Rochester, said proposals to make Britain the first non-Muslim country to sell a bond that complies with sharia could trigger a series of “unforeseen consequences”.
He also voiced broader fears that Christianity was being increasingly excluded from the administration of law, after one of Britain’s most senior judges said members of the judiciary were “secular” figures serving a “multicultural community”.
Last week the Prime Minister set out plans for Britain to issue a sukuk, a form of debt that is in line with Islamic law, because it avoids the prohibited use of “riba”, or interest.
The bonds, which will be worth around £200 million, would pay a fixed return based on the profit generated by an underlying asset, such as government buildings.















