We have good news and bad news.
The good news is that the link below takes you to a good report that explains Sukuk, aka Islamic bonds.
The bad news?
The report was produced in Japan and it is clear that the Japanese have no problem complying with Shariah to get access to petrodollars…which is the whole purpose of Sukuk and Islamic finance in the first place–to enforce Shariah-compliance on non-Muslim players in the financial markets.
This quote from the report says it all:
“By issuing Sukuk compliant with Islamic law, favorable attention to the issuers in the Islamic world is expected. Thus, the issuers are expected to gain favorable positions in marketing in the Islamic world.”
NOTE: The link will open a PDF file.