الصكوك الإسلامية كبديل شرعي لأدوات الدَّين في التمويل و التنمية

Abstract EN

This study deals with the establishment of Sukuks as an Islamic alternative debt instrument in funding to achieve development.

The study highlights the new role of Islamic finance and its engineering tools characterized by the reliability of transactions, and consequently the increasing interest of clients looking for a fair trading and earnings on the rulings of Shari'ah.

Islamic Sukuks are the object of this engineering and the driving force in financial transactions in particular.

The study found that Islamic Sukuk is an effective tool in managing liquidity, thus providing the necessary funding for institutions and governments alike, it also helps governments to get rid of the budget deficit, as well as it shifts financial resources and directs them to real productive investments, and reduce the severity of speculation.

Furthermore, the increase of the quantity and quality of sukuks has a significant impact in increasing the depth and the breadth of the market, which lead to achieving market efficiency and Striking a balance between the real and the financial economy