تأثير جائحة كورونا على عائدات الصكوك الإسلامية

Abstract EN

Islamic Sukuk are considered one of the main tools for Islamic financing and investment that institutions use to obtain financing in accordance with Islamic Sharia law and with relatively lower risks compared to traditional financing tools.

The issuance of Sukuk Investment has witnessed remarkable growth in recent years, and its issuance is no longer limited to business institutions, but has extended to include governments to finance their various projects.

The COVID-19 outbreak has become a global problem affecting human life and countries economic development.

This paper is trying to measure and explores the role that Sukuk has on Economic growth, and the impact of Corona pandemic on sukuk return over the period 27 Jan to 24 Dec 2020.

applied GARCH (1,1) on Dow Jones Islamic Sukuk Index.

The results showed that there is no strong effect of the new daily cases of covid-19 on the closing price of the index, and the sukuk are considered safe havens for investors according to the leverage effect, which requires increasing the issuance of Islamic sukuk and diversifying its investment structure to attract many investors.

And creation of the appropriate legislative environment for the development of the sukuk market to keep with the technological changes in the financing industry, and work to spread the culture of Islamic bonds in business communities as financial tools that offer them innovative solutions, as well as the necessity of urging governments to use Islamic instruments to finance development, and also the necessity exerting efforts on the part of the supervisory authorities to overcome the risks facing the sukuk, as well as the necessity of establishing specialized educational institutes and training centers to qualify the human resources needed to work in the sukuk market.