In 1990, energy joint venture firm Shell MDS issued the first corporate sukuk in Malaysia worth an estimated US$30-35 million at the time and since then, the country has not turned back. The Association of Southeast Asian Nations (ASEAN) member remains at the forefront of the global sukuk market till today.What is a sukuk?Sukuks represent certificates of equal value and act as an evidence of a Shariah-compliant investment that’s endorsed by the Shariah Advisory Council.