The Local Government Association's (LGA) municipal bonds agency (MBA) could make use of Islamic finance, it has been suggested.

Technical manager at the Chartered Institute of Public Finance and Accountancy (CIPFA), Mandy Bretherton, put forward the idea after a round table event attended by stakeholders from councils, the banking sector, specialist Islamic finance legal advisers, a Sharia scholar and lead advisor to the LGA on the MBA, Aidan Brady.