Appeal of Sukuk as a New Type of Financial Instrument نداء صكوك كنوع جديد من الأدوات المالية

Mohamed Ariff ()

Journal of King Abdulaziz University: Islamic Economics, 2015, vol. 28, issue 2, 149-175

Abstract: This paper aims at stimulating a creative discussion on an emerging market for Sukuk, which some writers consider to be a new way of debt-type contracting and others view as an equity-type instrument. This difference of opinion arises from various ways of structuring Sukuk. The market is founded on a set of clear ethical financial principles found in Islam’s teachings on financial trading. This topic attracts attention especially because the market is no more than two decades old, yet has chalked up an outstanding value of US$ 1,200 billion in five financial centers: Saudi Arabia, Malaysia, Kuwait, Bahrain and United Arab Emirates. Together with these, there are 13 other financial centers with one or more Sukuk instruments listed and traded in their financial markets. London listed its first such instrument in August, 2014, and more has followed since, with the announced aim of making London a leading center for this form of contracting. --

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:abd:kauiea:v:28:y:2015:i:2:no:5:p:149-175

DOI: 10.4197/Islec.28-2.5

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