REPORT:: East Cameron Gas Sukuk: The Dawn of a New Frontier

This report assesses the attempts of a major oil company, East Cameron, to operate a large oil and gas company with respect to Islamic finance principles (so-called sharīʿa compliance). The bankruptcy proceeding that follows hints at the difficulty and potential conflicts of interest in creating sharīʿa-compliant financial instruments that permit company independence without sufficient mechanisms to avoid default.  Read more.