The development of modern Shari’ah compliant financial products is relatively new, dating back to the early 1970s and the emergence of the first Islamic banks. In recent years, Shari’ah scholars and market participants have worked to devise Shari’ah compliant products which provide many of the benefits of conventional financial products whilst at the same time remaining faithful to religious precepts. This development process is ongoing as the Islamic financial market continues to expand. The global Islamic finance market is estimated to be worth many trillions of US Dollars and most financial institutions around the world are involved in Islamic financing in some way, with many specifically engaged in the management, arrangement or trading of sukuk.