Islamic finance - Structuring for sharia

There's been strong demand from Islamic investors for structured products that comply with sharia over the past few years, but product providers have been limited in the types of underlyings and payouts they can offer. A number of banks are now pushing the boundaries of innovation. By Wietske Blees

Structured product providers have shown strong interest in the Middle East over the past few years. Little wonder. With oil prices higher than $70 a barrel, local investors are flush with cash like never before. Keen to put this money to work, Islamic institutions and high-net-worth individuals have looked for investment opportunities that comply with sharia (Islamic law). Their options have been limited by the fact that the supply of sukuk - Islamic bonds - has been nowhere near sufficient to