From Americanchronicle.com: On June 13th, Saudi Arabia’s Capital Market Authority (CMA) launched a new market for conventional and Islamic bonds, or sukuk, in a push to develop a debt market in the face of the drying credit and restricted liquidity attributed to the global financial meltdown.
The introduction of the Saudi Arabian sukuk market parallels the emerging demand among Muslim countries for Shari’a- compliant products, as witnessed in Indonesia and Bahrain among others in the GCC……..Full Article: Source