BoE prepares to launch sharia-compliant liquidity facility

Bank of England
Photo: Juno Snowdon Photography

The Bank of England (BoE) is set to become the first western central bank to offer a liquidity facility that complies with the tenets of Islamic banking.

The central bank would launch its long-awaited sharia-compliant facility in the first quarter of 2021, executive director Andrew Hauser said on December 2.

The UK has four exclusively Islamic banks, with assets worth around £5 billion ($6.7 billion), as well as several conventional banks that offer sharia-compliant services.

The limited size

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: