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The contracts, structures and pricing mechanisms of sukuk: A critical assessment

Author

Listed:
  • Siti Sarah Razak
  • Buerhan Saiti
  • Yusuf Dinç

Abstract

The existing literature focuses only on the contacts and structures of sukuk, but the pricing of sukuk is largely ignored. This paper examines the contracts, structures and pricing mechanism of sukuk. More specifically, this study examines several sukuk instruments, reviews the existing structures, demonstrates sukuk pricing mechanisms and discusses critical issues of each type of sukuk. The paper also considers possible solutions for those issues discussed in this study. By doing so, the readers are able to understand the important technical elements of sukuk and can differentiate sukuk from the conventional bonds and appreciate the spirit of Islamic finance.

Suggested Citation

  • Siti Sarah Razak & Buerhan Saiti & Yusuf Dinç, 2019. "The contracts, structures and pricing mechanisms of sukuk: A critical assessment," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, vol. 19(Supplemen), pages 21-33, August.
    • Handle: RePEc:bor:bistre:v:19:y:2019:i:s1:p:21-33
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    Cited by:

    1. Nurin Haniah Asmuni & Ken Seng Tan, 2021. "Exploring the Yield Spread Between Sukuk and Conventional Bonds in Malaysia," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 20(2), pages 165-191, August.

    More about this item

    Keywords

    Islamic finance; Islamic capital market instrument; Sukuk; Structure of sukuk; Pricing of sukuk;
    All these keywords.

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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