Sukuk is the term given to financial certificates which are the Islamic equivalent of bonds. They are structured to comply with Islamic law and its investment principles. Bonds pay a fixed income interest, which is not permissible under Islamic law.
Malaysia is the world’s top Sukuk issuer with nearly 70% of the world’s Sukuk issued in this country. The total value of Sukuk issued in 2012 totalled around US$131 billion.
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