Abstract

http://ssrn.com/abstract=1357371
 
 

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Islamic Bond Issuance - What Sovereign Debt Managers Need to Know


Andreas (Andy) Jobst


International Monetary Fund (IMF) - European Department

Peter Kunzel


International Monetary Fund (IMF)

Paul S. Mills


International Monetary Fund (IMF) - Western Hemisphere Department

Amadou Nicolas Racine Sy


International Monetary Fund (IMF) - International Capital Markets Department

July 1, 2008

International Journal of Islamic and Middle Eastern Finance and Management, Vol. 1, No. 4, pp. 330-344, 2008
Islamic Law and Law of the Muslim World Paper No. 09-63

Abstract:     
Recent years have witnessed a surge in the issuance of Islamic capital market securities (sukuk) by corporates and public sector entities amid growing demand for alternative investments. As the sukuk market continues to develop, new challenges and opportunities for sovereign debt managers and capital market development arise. This paper reviews the key developments in the sukuk market and informs the debate about challenges and opportunities going forward.

Number of Pages in PDF File: 23

Keywords: debt management, securitization, structured finance, Islamic banking, Islamic finance, Islamic bond, shari'ah compliance, sukuk, mudharabah, ijara, murabaha, musharaka, riba

JEL Classification: F30, G15, G18, G28

Accepted Paper Series


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Date posted: March 12, 2009 ; Last revised: July 7, 2009

Suggested Citation

Jobst, Andreas (Andy) and Kunzel, Peter and Mills, Paul S. and Sy, Amadou Nicolas Racine, Islamic Bond Issuance - What Sovereign Debt Managers Need to Know (July 1, 2008). International Journal of Islamic and Middle Eastern Finance and Management, Vol. 1, No. 4, pp. 330-344, 2008; Islamic Law and Law of the Muslim World Paper No. 09-63. Available at SSRN: http://ssrn.com/abstract=1357371

Contact Information

Andreas A. Jobst (Contact Author)
International Monetary Fund (IMF) - European Department ( email )
700 19th Street NW
Washington, DC 20431
United States
+1-202-623-6362 (Phone)
Peter Kunzel
International Monetary Fund (IMF) ( email )
700 19th Street NW
Washington, DC 20431
United States
Paul S Mills
International Monetary Fund (IMF) - Western Hemisphere Department ( email )
700 19th Street NW
Washington, DC 20431
United States
Amadou Nicolas Racine Sy
International Monetary Fund (IMF) - International Capital Markets Department ( email )
700 19th Street NW
Room 9-548
Washington, DC 20431
United States
202-623-8651 (Phone)
202-589-8561 (Fax)
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