Ṣukūk are an important asset class which has captured the attention of a wide range of issuers and investors, regulators and sovereigns, academics, and market players. The ṣukūk industry has made remarkable leaps since its modern inception in the 1990s. It has grown in size and volume, evolved in structural possibilities, and successfully expanded the boundaries of the Islamic capital market to far-flung jurisdictions worldwide. Its promising future has led the International Shariʿah Research Academy for Islamic Finance (ISRA) and Securities Commission Malaysia (SC Malaysia) to collaborate to provide essential and comprehensive knowledge on this key instrument of the Islamic capital market.
This book, Ṣukūk: Principles & Practices, marks another milestone in fulfilling the needs of students of higher learning institutions, academics, practitioners, and other stakeholders, following the success of the previous joint publication between ISRA and SC Malaysia, Islamic Capital Markets: Principles & Practices. The present book discusses both theoretical and practical aspects of the ṣukūk market. From basic concepts, it takes the reader to a deeper level of understanding of their context and application by discussing key topics such as:
The book is presented in an easily accessible and illustrative format, providing details through in-depth explanations, exhibits, boxes, figures, and tables. Each chapter concludes with a summary and provides a list of review questions and case studies to challenge the understanding of the reader.
