The Challenges and Prospects of Sukuk: A Content Analysis-Based Study

Over recent decades, Sukuk (Islamic bonds) have emerged as one of the most important tools for Islamic investment and financing. They have become the most successful financial product in the Islamic financing industry, which has grown at a phenomenal pace over the past decade. A key driver in this regard has been the development of the Islamic capital markets, which offer tremendous potential for sovereigns, financial institutions, firms, and investors alike. This book comes at a key juncture in the development of the Islamic capital markets, with the global pandemic crisis providing an opportunity for the different players in the Islamic capital markets to re-appraise successes and failures to date. More stringent Shariah oversight has also encouraged a recent critical re-evaluation of the structures used in the Islamic capital markets. This book provides a comprehensive overview of the Sukuk markets, tracking their development from the first Sukuk to the current outlook after the global pandemic crisis and the recent Shariah rulings for Islamic financial institutions in relation to Sukuk. It presents key insights for beginners, as well as more experienced practitioners, and will serve as a practical handbook for postgraduate research students, undergraduate students pursuing a degree in Islamic banking and finance, academics, researchers, and stakeholders in Islamic capital markets, among others.

About the Author :
Essia Ries Ahmed is an Assistant Professor of Accountancy at the University of Nizwa, Oman. He received his PhD from University Malaysia Perlis, and his primary research interests concern financial reporting, and accounting and Islamic finance. He has published articles in the Journal of Accounting and Business and the Journal of Islamic Accounting and Business Research.Md. Aminul Islam is a Professor in the School of Business Innovation and Technopreneurship at Universiti Malaysia Perlis. He received his MBA and PhD from Universiti Sains Malaysia. He is a member of the Asian Academy of Management and the Malaysian Institute of Management, and an associate member of the Malaysian Finance Association. He has authored and co-authored three books, two book chapters, and about 200 research papers.Ku Halim Ku Ariffin is an Associate Professor in the School of Business Innovation and Technopreneurship at Universiti Malaysia Perlis, Malaysia. He received his MPA from the University of Science Malaysia. He is the author of eight books, including Islamic Entrepreneurship (2010), Islamic Entrepreneurship Value (2011), Successful Entrepreneurship (2010), Development Transformation (2011), Islamic and Asia Civilization (2012), and Ethnic Relation (2006). Professor Azlan Amran is the Dean of the Graduate School of Business of Universiti Sains Malaysia. He has published a significant number of articles in the areas of corporate sustainability reporting and corporate social responsibility, and is a member of the editorial board for several international journals.