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The Islamic Debt Market for Sukuk Securities

The Theory and Practice of Profit Sharing Investment Edited by Mohamed Ariff, Chair of Economics and Finance, Sunway University, Malaysia, Munawar Iqbal, Professor, King Abdul Aziz University, Saudi Arabia and Chief of Research, IRTI, Islamic Development Bank and Shamsher Mohamad, Professor of Finance, International Centre for Education in Islamic Finance, Malaysia
The relatively new sukuk (or Islamic debt securities) markets have grown to more than US $800 billion over the past decade, and continue to grow at a rate of around 20-30 per cent per year. Arguably the first of its kind, this path-breaking book provides a highly unique reference tool relating to key issues surrounding sukuk markets, which are found in 12 major financial centres, including Kuala Lumpur, London and Zurich.
Extent: 256 pp
Hardback Price: $126.00 Web: $113.40
Publication Date: 2012
ISBN: 978 0 85793 620 2
Availability: In Stock
Paperback Price: $45.00 Web: $36.00
Publication Date: 2014
ISBN: 978 1 78100 650 4
Availability: In Stock
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  • Economics and Finance
  • Financial Economics and Regulation
  • Islamic Economics and Finance
  • Money and Banking
The relatively new sukuk (or Islamic debt securities) markets have grown to more than US $800 billion over the past decade, and continue to grow at a rate of around 20-30 per cent per year. Arguably the first of its kind, this path-breaking book provides a unique reference tool relating to key issues surrounding sukuk markets, which are found in 12 major financial centres, including Kuala Lumpur, London and Zurich.

The internationally renowned contributors present an in-depth study of sukuk securities, beginning with a comprehensive definition and history. They go on to discuss Islamic financial concepts and practices that govern how sukuk securities are issued, how markets are carefully regulated to protect investors, and how securities are designed to safeguard invested money. The prospects and challenges of developing sukuk Islamic debt markets across the world are also illustrated.

This comprehensive guide to sukuk markets will prove a fascinating and useful reference tool for academics, students, researchers and practitioners with an interest in Islamic finance, and, more specifically, in the nascent field of sukuk securities.
Contributors: M. Ariff, M.A. Ayob, P. Casey, M. Çizakça, S.A. Hussein, M. Iqbal, S.S.A. Khan, S. Mohamad, S.P. Parashar, A. Saeed, M. Safari, N.H. Saidi, O. Salah, M.T. Skully
Contents:

Foreword

Preface

1. Introduction to Sukuk Islamic Debt Securities Markets
Mohamed Ariff, Munawar Iqbal and Shamsher Mohamed

PART I: FUNDAMENTALS OF SUKUK SECURITIES
2. Sukuk Securities, their Definitions, Classification and Pricing Issues
Mohamed Ariff, Meysam Safari and Shamsher Mohamed

3. History of Sukuk: Pragmatic and Idealist Approaches to Structuring Sukuk
Abdullah Saeed and Omar Salah

4. A Guide to Islamic Finance Principles and Financial Engineering
Munawar Iqbal

5. Hıstory of Islamic Public Finance: Gharar and Risk Aversıon
Murat Çizakça

PART II: REGULATIONS OF SUKUK MARKETS
6. Regulatory Lessons on Sukuk Financial Products, an Opinion
Peter Casey

7. Regulation and Supervision of Sukuk Industry in Bahrain
Sat Paul Parashar

8. Securitization Issues and Islamic Financial Products with Reference to Sukuk
Michael T. Skully

PART III: SUKUK MARKETS AND INDUSTRY PRACTICES
9. Stylized Facts About Islamic Sukuk Markets
Nassar H. Saidi

10. Sukuk Industry Development in the Bahrain Capital Market
Sat Paul Parashar

11. Bond Pricing Practices in the Sukuk Market in Malaysia
Meor Amri Ayob

12. Origination, Issuance, Marketing and Listing of Sukuk Securities
Mohamed Ariff and Shamsher Mohamed

13. The Role of IDB in Islamic Capital Market Development
Salman Syed Ali Khan

14. Prospects and Challenges of Developing Sukuk Islamic Debt Markets Around the World
Mohamed Ariff, Munawar Iqbal and Shamsher Mohamed

Index