Islamic Bond Issuance - What Sovereign Debt Managers Need to Know
International Journal of Islamic and Middle Eastern Finance and Management, Vol. 1, No. 4, pp. 330-344, 2008
23 Pages Posted: 12 Mar 2009 Last revised: 6 Jul 2009
Date Written: July 1, 2008
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.
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
Suggested Citation: Suggested Citation
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