Economic Secretary to the Treasury, Kitty Ussher, hosted the first meeting of the Islamic Finance Experts Group. The Group was set up to act as an industry sounding board for HM Treasury and the Financial Services Authority (FSA) on islamic finance. The focus of the meeting in August was to discuss the government's feasiblity study into issuing sovereign sukuk (islamic bonds). Speaking after the meeting, Kitty Ussher said:

"The UK is at the forefront of developments in islamic finance and London continues to seize new opportunities – two of the largest sukuk issued in the first half of this year were listed in London. “The announcement of the feasibility study into the government issuing sovereign sukuk has generated a huge amount of interest and enthusiasm.

“It was a very informative meeting and we shall continue to listen to a wide range of views before making a decision on whether to issue the first sterling sovereign sukuk."

The Group also discussed recent market developments and how the business and islamic community could continue to work together in partnership to drive islamic finance forward in the UK. The government's aims to entrench London's position as a global gateway for islamic finance and to create a level playing field for alternative finance and investments, such as islamic finance, in the retail market.