Global sukūk and Islamic securitization market
Subtitle: financial engineering and product innovation by Muhammad al-Bashir Muhammad al-Amine
Series: Islamic law series -- v. 6
Publisher: Brill
Published: 2011
Place of publication: Leiden; Boston
Language: eng
Number of pages: 465
ISBN-13: 9789004202672
Subjects: Capital market (Islamic law); Law and legislation; Capital market; Securities (Islamic law)
Description: The Sukuk market is the fastest growing segment of international finance. The study explores the dimension of this market, its growth globally and the main Sukuk markets. The liquidity in this market, the main currency denomination, the subscription diversification, the subprime crisis effects and the dominant structures are elaborated. The difference between sovereign and corporate Sukuk, the benefits and reasons behind Sukuk issuance as well as the Shariʻah basis are analysed. Securitisation as the best way forward for Sukuk structuring is scrutinized. The study also discusses the various legal, Shariʻah, financial and operational risks facing Sukuk as well as the default controversies. Finally the book examines the methodologies in rating?ukuk and highlights the issues of Sukuk listing, Sukuk index and Sukuk fund. -- abck cover.
Notes: Includes bibliographical references and index.
Table of contents: title: Islamic finance development and growth; title: Concept and development of the sukūk market; title: Shariah basis for the development of sukūk structures; title: sukūk structures and case studies (ijarah sukūk); title: Global profit- loss sharing sukūk structures (musharakah mudarabah wakalah); title: Securitisation and sukuk; title: Governing law in sukūk structures; title: Shariah compliance harmonisation and governance; title: Risk factors in sukūk structures; title: Rating sukūk.