The Sukūk market in Malaysia: issues and challenges

Gülsüm Ç. Dolgun and Muhammed Dolgun

Chapter 12 in Islamic Wealth Management, 2017, pp 206-224 from Edward Elgar Publishing

Abstract: Sukūk are compliant alternative mode of financing with partial ownership in an asset, or project or business or an investment. The most commonly used such structure is a replication of the cash flows of conventional bonds, as in rental (ijarah) and these are listed in exchanges and traded on secondary markets in some 17 countries: Malaysia accounts for two-thirds of this market. The issues relating to these mostly new debt-like products are discussed in this chapter. Starting with general information, the author provides a literature review and describe how the market has developed in the last two decades. The reader should note the debt-taking principles surrounding this new form of debt-like products, which are aimed to provide specific funding needs of businesses at various stages of their needs. Endorsed by international institutions, this form of debt-taking is considered much safer than the mainstream practices that is based on the firm taking the risk, and the financier taking little risk.

Keywords: Asian Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2017
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