GFI opens Islamic broking desk in London

Inter-dealer broker GFI has opened a new Islamic banking and finance broking desk in London to meet growing demand for securities that are compliant with Islamic sharia law.

GFI will help develop the secondary market in Islamic sukuk bonds and other financing products. The desk is managed by Chris Steer, who joined GFI in 1998 and helped set up the broker's European high-yield desk. "We expect the interest to come from major financial institutions in London, as well as Gulf-based and southeas

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