Shariah issues in Islamic capital markets : Sukuk
Joint Authors
Lin, Lee Sze
Ahmad, Rubi
Lahsasna, Ahcene
Source
ISRA International Journal of Islamic Finance
Issue
Vol. 5, Issue 2 (31 Dec. 2013), pp.99-123, 25 p.
Publisher
International Shari'ah Research Academy for Islamic Finance
Publication Date
2013-12-31
Country of Publication
Malaysia
No. of Pages
25
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
- Islamic jurisprudence
- Islamic economics
- Right to property
- Financial transactions
- Markets
- Contracts
- Prices
- Finance
- Investments
- Financial markets
- Debts
- Capital
- Purchasing
- Bonds
- Scientists
- Speculation
- Bahrain
- Ownership
- Hedge(Finance)
- Discount
- Partnerships
- Payments
- Fines(Penalties)
- Deeds
- Accounting and Auditing Organization for Islamic Financial Institutions
Abstract EN
The purpose of this paper is to ascertain the prevailing Shariah issues in Islamic capital markets, particularly Sukuk.
Common features of conventional bonds are replicated in Sukuk via late penalty payment upon default, trading of debt-based sukuk, purchase undertaking in equity-based structures and ownership status in assetbased transactions.
These features pose Shariah concerns and are discussed in the paper from the perspective of current practices and views of scholars by compiling various references that reveal the diversity of the Shariah.
The paper does not claim to provide solutions to the issues of debate; rather it engages in providing an analysis of these Shariah issues.
The four issues covered are certainly not exhaustive; more issues are expected to creep up as sukuk structures continue to evolve over time.
The paper provides value by shedding light upon the discussed issues and it also highlights the need for a balance between growing the sukuk market and upholding Shariah in all aspects when structuring sukuk.
American Psychological Association (APA)
Lin, Lee Sze& Lahsasna, Ahcene& Ahmad, Rubi. 2013. Shariah issues in Islamic capital markets : Sukuk. ISRA International Journal of Islamic Finance،Vol. 5, no. 2, pp.99-123.
https://search.emarefa.net/detail/BIM-717835
Modern Language Association (MLA)
Lin, Lee Sze…[et al.]. Shariah issues in Islamic capital markets : Sukuk. ISRA International Journal of Islamic Finance Vol. 5, no. 2 (Dec. 2013), pp.99-123.
https://search.emarefa.net/detail/BIM-717835
American Medical Association (AMA)
Lin, Lee Sze& Lahsasna, Ahcene& Ahmad, Rubi. Shariah issues in Islamic capital markets : Sukuk. ISRA International Journal of Islamic Finance. 2013. Vol. 5, no. 2, pp.99-123.
https://search.emarefa.net/detail/BIM-717835
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 122-123
Record ID
BIM-717835