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Sukuk: A General Introduction الصكوك: مقدمة عامة

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  • Rida Sadallah

    (President of the Tunisian Association for Islamic Economics (ASTECIS))

Abstract

When economic units in the conventional financial system require external financing, they resort to one of two methods: borrowing from financial intermediaries, with banks being at the forefront of these; or going directly to the financial markets, where they offer to savers – both individuals and institutions – underwriting of financial securities i.e., stocks and bonds. Except for the shares of companies, which are considered generally legitimate (Shariah-compliant), rest of the conventional financing instruments do not comply with the provisions of Islamic Shariah due to their reliance on interest. Islamic finance has provided a successful Shariah-compliant alternative to conventional finance. One instrument in Islamic finance are sukuk; which have been presented as a Shariah-compliant alternative for conventional bonds. --

Suggested Citation

  • Rida Sadallah, 2015. "Sukuk: A General Introduction الصكوك: مقدمة عامة," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 28(2), pages 201-222, July.
  • Handle: RePEc:abd:kauiea:v:28:y:2015:i:2:no:8:p:201-222
    DOI: 10.4197/Islec.28-2.8
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