Abstract
This chapter is about Sukuk in the Islamic capital market (ICM). Sukuk is regarded as an important instrument in the ICM. Moreover, Sukuk is regarded as a unique structure with specific features that distinguish it from other types of instruments such as bonds, shares, and securitization. These features bring along with them various benefits to the issuers and investors as well. There are some Shariah rules and principles that should be observed in dealing with Sukuk in the stage of issuance as well as when trading in the secondary market to ensure its Shariah-compliant status. This chapter covers important aspects of Sukuk such as its definition and concept, characteristics of investment Sukuk, the Shariah foundation of Sukuk, and risk factors in Sukuk.
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Notes
- 1.
Key note address by Riffat Ahmad Abdel Karim; as quoted in Al-Amine (2012).
References
AAOIFI. (2010). Shariah Standards. Accounting and Auditing Organization for Islamic Financial Institutions, Kingdom of Bahrain.
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Al-Amine, M. A. (2012). Global Sukuk and Islamic Securitization Market: Financial Engineering and Product Innovation. Leiden, NL: Koninklijke Brill NV.
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Iqbal, Z., & Mirakhor, A. (2007). An Introduction to Islamic Finance. Singapore: Wiley.
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Lahsasna, A., Hassan, M.K., Ahmad, R. (2018). Sukuk in Islamic Capital Market. In: Forward Lease Sukuk in Islamic Capital Markets. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-94262-9_3
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DOI: https://doi.org/10.1007/978-3-319-94262-9_3
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-319-94261-2
Online ISBN: 978-3-319-94262-9
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