UK PM unveils plans for Islamic Market Index

Prime Minister David Cameron is taking strides to tap the burgeoning interest in Islamic finance, announcing the launch of a new Islamic Market Index in London and plans for Britain to be the first non-Muslim country to issue an Islamic bond.

Describing London as "already the biggest center for Islamic finance outside the Islamic world," Cameron said Tuesday that the UK's ambition is to go further: "I want London to stand alongside Dubai as one of the great capitals of Islamic finance anywhere in the World," he said. (AP)