BONDS AND BOND MARKETS

Obiyathulla Ismath Bacha, Ali Zhang Hengchao and Mirzet Šeho

Chapter 5 in Islamic Capital Markets:A Comparative Approach, 2025, pp 103-134 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This chapter provides an in-depth analysis of bonds. The pricing/valuation of bonds, bond trading mechanics, and related issues such as the yield to maturity, the yield curve, nominal and real interest rates, and duration are examined. On completing this chapter, you should have a good understanding of bonds, their valuation techniques, the impact of inflation on interest rates, the determination of yields to maturity, interest rate risk, and bond duration.

Keywords: Islamic Banking; Islamic Finance; Capital; Capital Markets; Contracts; Instrument Design; Interbank; Interbank Money Market; Islamic Interbank Money Market; Bond; Bond Market; Sukuk; Sukuk Market; Common Stocks; Equity Markets; Islamic Equities Market; Derivative Instruments; Shariah; Shariah-compliant Derivative Instrument; Exchange Rates; Foreign Exchange Market; Digital Financial Assets; Blockchain; Financial Solution; Digital Financial Solution; Conventional Capital Market; Dual Market (search for similar items in EconPapers)
JEL-codes: F3 G15 G18 G23 G24 (search for similar items in EconPapers)
Date: 2025
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