“The central London offices must be run in line with Islamic principles because of a deal with rich Middle Eastern investors.” How much more of this has been done but has not yet come to light? How much more of it will the British do? At what point will British authorities stand up and call a halt to all this, and recognize that most British people do not wish to live in a Sharia state? Is there any point at all at which they will do that, or is Britain’s surrender and submission already too far advanced to stop?
THESE are the Government buildings where selling alcohol is banned – because of Sharia law.
The central London offices must be run in line with Islamic principles because of a deal with rich Middle Eastern investors.
They demanded the buildings be audited by Muslim scholars and subject to special rules in exchange for lending the Government £200million.
The deal currently only covers three buildings – Richmond House, Wellington House and a property on Whitehall – and is almost unheard of outside of the Middle East.
But Treasury officials hope hundreds of Western companies will follow their lead and turn over buildings to Islamic financiers in similar deals.
The Government launched the financial product – known as a Sukuk – in 2014, and hailed the huge quantity of investment money it raised.
But the repercussions of the deal stayed under wraps until this month, when it was revealed the pact could deprive the UK’s Parliament of alcohol.
One of the buildings – Richmond House – is a potential replacement venue for the House of Commons while the Palace of Westminster undergoes vital repairs.
But if it were chosen, members would have to do without their subsidised bars and restaurants, which offer beer, wine and spirits at knock-down prices.
The exact restrictions under which the buildings must be run which were not spelled out in the text of the deal struck with overseas investors.
The UK only said that its board of Sharia financiers had approved the deal.
But an Islamic finance source, speaking to Express.co.uk on condition of anonymity, said that making money from the sale of alcohol would be likely to spark a row with investors.
The expert, who helped market the UK Sukuk to investors overseas, said a “Sharia disagreement” could erupt if plans to relocate MPs to one of the buildings go ahead.
He said: “If you are generating revenues which are non-compliant – sales of alcohol or something – then doubts could be raised.
“These buildings are used for general governmental purposes. If the buildings were used, say, where alcohol is served, then there is a Sharia disagreement.”
The finance deal – known as a Sukuk – was the first of its kind to be issued by a Western government.
The product was developed because the Koran prohibits making money from interest, meaning investors cannot buy regular Government bonds.
To get around the prohibition, the Sukuk does not technically produce interest – but makes money from other sources, like renting out buildings.
The Sukuk sees the Government “rent” property back to itself, and hand over fixed returns to its investors, which does not count as interest.
In order for the deal to be acceptable, the Government must provide assurances to run the buildings in line with Sharia law, which is ill-defined but broadly understood to include an alcohol ban….