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Digital Sukuk Issuance For Business Financing

In: BEYOND FINTECH Technology Applications for the Islamic Economy

Author

Listed:
  • Hazik Mohamed

Abstract

Research consistently show that small- and medium-sized enterprises (SMEs) face greater constraints on access to finance than large firms, due to issues of information asymmetry, lack of collateral, and higher cost of servicing loans. In view of the large contribution of SMEs to output and employment in emerging Asian economies, it is critical to enhance the access of SMEs to finance in a way that is consistent with sustainable growth and financial stability. In this chapter, the author recommends putting asset-backed bonds on the blockchain to enable transparency and put forth steps to automate cumbersome processes in asset-backed bond issuances, in order to reduce costs and improve efficiency. Significant advantages of using technology to operationalize trust and instil confidence in properly structured and executed financial instruments will also be discussed. The author will also make these recommendations on the basis of fulfilling a gap in traditional bond issuances, which is currently occupied by the loan markets.

Suggested Citation

  • Hazik Mohamed, 2020. "Digital Sukuk Issuance For Business Financing," World Scientific Book Chapters, in: BEYOND FINTECH Technology Applications for the Islamic Economy, chapter 3, pages 43-67, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811222313_0003
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    Cited by:

    1. Xiuxiu Jiang & Xia Wang & Jia Ren & Zhimin Xie, 2021. "The Nexus between Digital Finance and Economic Development: Evidence from China," Sustainability, MDPI, vol. 13(13), pages 1-17, June.

    More about this item

    Keywords

    Ethics and Technology; Digital Transformation; Regional Development; Customer Behaviour; Evolution of FinTech; Global Landscape; Payments; Asset under Management; InsurTech; Investments; Cloud Computing; Big Data Analytics; Blockchain; Internet of Things (IoT); Robo Advisors; Artificial Intelligence; Machine Learning; Islamic Finance; Endowment; Intellectual Property; Fraud Detection; Risk Mitigation; Cost-Effective; Increased Productivity; Immutable; Know Your Client (KYC); Media Rights; Coordination ; Efficiency; Consensus-building; Agility; Scalability; Innovation; Cybersecurity; Collaboration; Venture Capital; Enterprise Solutions; Era of Digitization; Digital Ecosystem; Disruptive Models; Market Insights; Predictive Analytics; Insurance; Takaful; Capital Markets; Distributed Ledgers (DLT); Wealth Management; Islamic Markets; Sharing Economy; Trust Mechanism; Open Platforms; Web and Mobile; Cloud Computing; Trades and Settlements; Regulatory Controls; User Defined; Institutional Economics; Cryptocurrency (Tokens); Public Registries; Smart Contracts; Securities Clearing; Automation; Enforceability; Claims Processing;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G2 - Financial Economics - - Financial Institutions and Services
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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