Shariah-compliant bonds, or sukuk, continued to be the weapon of choice for financial jihadists looking to push Shariah out to the world through the financial “back door.”

Sukuk issuances increased to $137 billion in 2012 as compared to $92.4bn in the previous year, said International Islamic Financial Market (IIFM) in a new report on sukuks.

Ijlal Ahmed Alvi, Chief Executive Officer of IIFM, said: “The last two years were record years of Sukuk issuances which reached $92.4bn and $137bn in 2011 and 2012, respectively. This year has also started on a positive note and as per the report over $11bn worth of Sukuk was issued in January 2013 and the growth trend is expected to continue in coming years”.



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