Over the past two years, it has become more and more apparent that the Islamic bond, referred to properly as “sukuk,” has become the financial instrument of choice for the Shariah Finance industry. This is especially true in the oil-rich Persian Gulf region, as the article below indicates. We can expect that the sukuk will be the main Trojan horse that the financial jihadists will use to creep Shariah in through our financial backdoor in the future…
Companies and governments in the Gulf sold Islamic bonds this year at the fastest clip since 2007, underscoring a trend where borrowers are seeing more appetite for their debt among regional investors in the wake of the sovereign-debt crisis sweeping Europe.
