In this Issue:

- The History and Development Of Sukuk

- Summary Of Sukuk Structures

- Sukuk Al-Ijara

- Case Study: Government Of Dubai US$5 Billion Trust Certificate Issuance Programme

- Sukuk Al-Wakala

- Case Study: Dar Al-Arkan Real Estate Development Company US$1.2 Billion Trust Certificate Issuance Programme

- Sukuk Al-Mudaraba

- Case Study: Abu Dhabi Islamic Bank US$1 Billion Additional Tier 1 Capital Certificates

- Sukuk Al-Musharaka

- Case Study: Sadara Chemical Company (Sadara) SAR7.5 Billion Sukuk Al-Musharaka DUE 2028

- Sukuk Al-Istithmar

- Case Study: Saudi Electricity Company SAR4.5 Billion Sukuk Al-Istithmar Expiring 2054G

- Sukuk Al-Manafa’a

- Case Study: Ooredoo US$2 Billion Trust Certificate Issuance Programme

- Sukuk Al-Istisna’a

- Case Study: Kingdom Installment Company LLC US$18 Million Fixed Rate Sukuk Certificates

- Sukuk Al-Murabaha

- Case Study: Goldman Sachs International US$2 Billion Certificate Issuance Programme

- Other Sukuk Structures | Sukuk Al-Salam

- Excerpt from The History and Development of Sukuk:

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.