Financial Sukuk: Concept, Legal Principles, and Types
Asian Journal of Economics, Business and Accounting · pp. 98–106 · Published 15 Jan 2024
10.9734/ajeba/2024/v24i21224Abstract
Sukuk, often referred to as Islamic bonds, represent a unique and innovative financial instrument within the realm of Islamic finance. Originating from the principles of Shariah law, Sukuk offer a distinct alternative to conventional bonds by adhering to Islamic principles that prohibit the payment or receipt of interest (Riba). Instead of interest-bearing debt, Sukuk are structured as investment certificates, granting investors a share in the ownership of tangible assets or services. This adherence to Shariah principles ensures that Sukuk are compatible with Islamic ethical and legal standards, attracting a diverse range of investors seeking financial instruments aligned with their religious beliefs. As Sukuk continue to gain prominence in global financial markets, they contribute to the development of more inclusive and diverse investment options, catering to both Islamic and non-Islamic investors alike. This research paper presents a thorough literature review of Sukuk in the Islamic economy and showcases their definition, typologies and other aspects. Sukuk, often referred to as Islamic bonds, play a significant role in the Islamic economy. These financial instruments comply with Islamic law (Shariah) principles, which prohibit the payment or receipt of interest (Riba) and promote risk-sharing and asset backing. Sukuk provide an alternative means for raising capital that aligns with Islamic finance principles. The study herein is of significance for researcher as well as postgraduate researchers in the areas of Islamic banking, economy studies and accounting.
References (8)
- 1 Financial Deepening in Economic Development. [DOI]
- 2 Does Financial Development 'Lead' Economic Growth? The Case of China
- 3 The Determinants of Sukuk Market Development: Does Macroeconomic Factors Influence the Construction of Certain Structure of Sukuk?
- 4 Contemporary challenges and prospects for sukuk
- 5 Islamic finance at a crossroads: the dominance of the asset-based sukuk
- 6 Islamic banking and economic growth: the Kuwait experience [DOI]
- 7 A Proposed Approach for Development
- 8 Bond Markets and Economic Growth [DOI]
Cited by 11
Surita Hartini Mat Hassan, Nurul Nadzirah Abdul Nasir Abdul Nasir, Mohd Nasir Ayub · Environment-Behaviour Proceedings Journal · 2025
Bahman Khanalizadeh, Ashkan Rahimzadeh, Mohammad Dalmanpour · Journal of Finance · 2024
Hendra Arie Rachmadhika · Jurnalku · 2024
Eda Köse · Kapadokya Akademik Bakış · 2024
Showing 4 of 11 known citations — external sources report more than can currently be individually listed.
Related research
- Assessing Financial Freedom among Teachers in the New Normal — shares topic coverage
- A Study of the Inclusion Complex Formed Between Cucurbit[8]uril and N,4-Di(pyridinyl)benzamide Derivative — shares topic coverage
- Impact of Rural Credit on Economics of Paddy Cultivation in Varanasi District of Eastern Uttar Pradesh, India — shares topic coverage
- Constraints Perceived by Buffalo Farmers in Interaction with Information Providing Stakeholders — shares topic coverage
- Institutional Financial Support and SMEs Growth. A Case Study on Selected SMEs in Ghana — shares topic coverage
Article metrics
Real usage data collected on this platform.
5
Page views
0
PDF downloads
0
Outbound clicks
11
Citations
Views over time
Views by country
Approximate, from request IP at view time — not citizenship or institution. Countries with fewer than 5 views are grouped as "Other".
Traffic sources
Referring site, by host.
Views and downloads exclude known bots/crawlers. Citations combines this platform's own DOI-resolved index with each external source's own reported total — see Cited by above for individually listed citing works. Last refreshed 0 seconds ago.