The development of sukuk, though recent, has progressed spectacularly. The first-of-its-kind sukuk was initially launched in the year 2000 at the 11th Islamic Development Bank Annual Symposium. The main reason for the issuing of the sukuk at that time was to assist both sovereigns and corporates to have an access into the Islamic capital markets. From then onwards, it has been widely accepted that the sukuk industry has emerged as one of the main apparatuses of the Islamic financial system and has increasingly become an essential subset of the international financial system........... Download the full article in pdf attachment (below)