The western African nation of Senegal has decided to issue a $200 million sukuk (Islamic bond). This is hardly surprising, given that, according to the Central Intelligence Agency, the nation is 94% Muslim…

With the list of nations issuing sukuk as sovereign debt growing, the possibility truly exists that the majority of nations on earth will one day have Shariah-compliant sovereign debt. This has not happened yet, but there is talk of sukuk issuance from the Philippines and South Korea to Russia and France…The stranglehold that the financial jihadists have on much of the world’s wealth thanks to their oil wealth will grow more complete when they start to dominate various sovereign fundraising mechanisms…

http://af.reuters.com/article/investingNews/idAFJOE73B0AR20110412

 

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