Sukuk: A General Introduction الصكوك: مقدمة عامة

Rida Sadallah ()
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Rida Sadallah: President of the Tunisian Association for Islamic Economics (ASTECIS)

Journal of King Abdulaziz University: Islamic Economics, 2015, vol. 28, issue 2, 201-222

Abstract: When economic units in the conventional financial system require external financing, they resort to one of two methods: borrowing from financial intermediaries, with banks being at the forefront of these; or going directly to the financial markets, where they offer to savers – both individuals and institutions – underwriting of financial securities i.e., stocks and bonds. Except for the shares of companies, which are considered generally legitimate (Shariah-compliant), rest of the conventional financing instruments do not comply with the provisions of Islamic Shariah due to their reliance on interest. Islamic finance has provided a successful Shariah-compliant alternative to conventional finance. One instrument in Islamic finance are sukuk; which have been presented as a Shariah-compliant alternative for conventional bonds. --

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:abd:kauiea:v:28:y:2015:i:2:no:8:p:201-222

DOI: 10.4197/Islec.28-2.8

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