Sukuk are a relatively recent phenomenon, beginning in Malaysia in 1990 with a RM120m ($30m) deal from a Shell Malaysia subsidiary. There has been rapid growth in the past five years with jumbo deals from the Dubai Ports, Customs & Free Zone Corp (DPWorld - $3.5bn) and Nakheel Group ($3.52bn), pushing such structures firmly into the international eye. Approximately $50bn has been issued globally thus far.
There are 14 types of sukuk specified by the Accounting and Auditing Organization for Is
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