The Middle East Forum’s  Middle East Quarterly has published an excellent, in-depth look at Islamic bonds (sukuk), explaining how they work and the differences between sukuk and conventional bonds.

Sukuk have fast become the instrument of choice in the world of Shariah-compliant finance, having come a long way since 2009 when Mufti Taqi Usmani, one of the world’s foremost Shariah scholars, declared them “unislamic.”



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