In recent months, we have seen growing interest in the use of Sukuk as an alternative source of funding for companies in the aircraft leasing sector and it is timely to explore why there is a growing interest in Ireland and some key tax issues that need to be addressed in structuring these investment propositions. Sukuk represent the Islamic equivalent of conventional bonds that can be issued to raise funding and allows financial institutions and similar entities to invest in companies in a manner that is Shariah-compliant. The use of Sukuk investment instruments have seen steady growth in recent years and current levels of issuance are back to pre crisis level after a dip in 2008 and 2009, with over US$45 billion of Sukuk issuance in 2010 alone.