1. It must be a programme that enables the issuer to issue Sukuks quickly and efficiently when market conditions are right (just like an Euro Medium Term Note Programme enables an issuer to take advantage of good market conditions at the right time in the Euro market);

2. Issues under the programme are not overly document intensive;

3. The programme has a very flexible architecture that enables the issuer to use a variety of Shariah-compliant asset classes for any issue of Sukuk and also enables the issuer to substitute assets backing the issue efficiently; and

4. The structure has broad Shariah acceptance. The structural architecture of the recent Gulf Finance House B.S.C (c) (GFH) Sukuk programme has been summarised below.