Sukuk Securities: New Ways of Debt Contracting

Praise for Sukuk Securities

“Sukuk trading has been rapidly growing in the past and has promising growth potential in both Muslim and non-Muslim countries. Providing an overview of the features, size, contracts, practice and regulatory aspects of sukuk, the book is a useful source of reference for those who want to know and understand the intricacies of these new emerging Shari’ah compliant securities.”
—Habib Ahmed, Sharjah Chair in Islamic Law & Finance, Durham University Business School, United Kingdom

“In the relatively new, yet fast growing sukuk market, the authors have captured and given an in-depth description of all the essential elements of the product and how it can be used effectively in the marketplace. This book is an essential tool for all practitioners and those wishing to understand the sukuk market better.”
—Daud Vicary Abdullah, President & CEO, International Center for Education in Islamic Finance

“This volume is a notable achievement. Within these covers the reader gains a thorough understanding of this new debt instrument. The authors provide a comprehensive account of how sukuk are designed and structured, their cash flows, pricing and trading, along with the issues involved in how the securities are rated and regulated.”
—Mervyn K. Lewis, FASSA, Adjunct Professor, University of South Australia

“Sukuk Securities: New Ways of Debt Contracting is certainly a must-read publication for finance experts and enthusiasts whether they are from industry, regulatory or academia. The authors have succinctly and comprehensively presented the different forms of sukuk structures that have been issued since 1998. They have shown that such debt contracting is pro-growth, able to match different needs and more importantly, an effective solution to the problem of increasing national debts which is helpful to financial stability.”
—Datuk Syed Othman Alhabshi, Chief Academic Officer, INCEIF

“The authors conceptualize sukuk as a mode of financing based on asset ownership and profit sharing. With this as a benchmark, they assess other sukuk concepts and classifications, structuring and issuing practices, regulations, and pricing methods. Their contribution will certainly enrich academic discussions, and their outline of sukuk structures yet to be issued should inspire practitioners.”
—Volker Nienhaus, Visiting Professor, University of Reading, United Kingdom

“This book is a must-read for all those interested in capital market innovations, now that sukuk securities are making huge waves in many parts of the world. The authors provide valuable insights into the mechanics and dynamics of sukuks in terms of both theory and practice. The approach taken in this volume is thoroughly analytical and remarkably refreshing.”
—Mohamed Ariff Abdul Kareem, Professor of Economics and Governance, INCEIF