Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to HM Treasury annual report and accounts 2025 to 2026, HC 424, July 2026, page 171, for what reasons Ministers took the decision for the Plc company not to issue further certificates of HM Treasury Sovereign Sukuk, and consequentially cease trading as of July 2026.

The UK is the leading Western centre for Islamic finance. The UK's two sovereign sukuk issuances successfully supported the development of the UK Islamic finance market and reinforced the UK's position as a leading Western hub for Islamic finance. The second sovereign sukuk matured in July 2026, and the Government did not issue a further sovereign sukuk.

The Government keeps the case for further issuances under review. The Government continues to engage with industry and international partners to promote the UK’s expertise in Islamic finance and to explore opportunities for the sector, including links between Islamic finance and sustainable finance.