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Public Private Partnerships: lesson from Sukuk

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  • Ismail, Abdul Gahfar

    (The Islamic Research and Teaching Institute (IRTI))

Abstract

The public private partnerships are considered as the hybrid of privatization policy. It is one of a range of policies introduced by the public authority to increase the involvement of the private sector in the provision of public services. Although, there is no such reviews of this mechanism, but the public authority will continue to pursue the delivery of some public services through this means. It was introduced in 1990s. However, much of the methods of financing are clouded by conventional instruments like bonds and senior bonds. The other alternatives are to issue Islamic related instruments via sukuk. This paper will consider whether the public private partnerships will open up for new risks, using an example of KLIA projects. However, due to the underlying contracts assigned to each particular projects, it might lead to relate this public private partnerships to law origin in the issuing country. Both the risks and law origin are crucial in issuing sukuk. Hence, both may draw lessons to policymakers and players.

Suggested Citation

  • Ismail, Abdul Gahfar, 2015. "Public Private Partnerships: lesson from Sukuk," Working Papers 1435-4, The Islamic Research and Teaching Institute (IRTI).
    • Handle: RePEc:ris:irtiwp:1435_004
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    References listed on IDEAS

    as
    1. Jean Shaoul & Anne Stafford & Pam Stapleton, 2012. "The Fantasy World of Private Finance for Transport via Public Private Partnerships," International Transport Forum Discussion Papers 2012/6, OECD Publishing.
    2. La Porta, Rafael & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," Journal of Finance, American Finance Association, vol. 52(3), pages 1131-1150, July.
    3. Pawel Gasiorowski & Marian Moszoro, 2008. "Optimal Capital Structure of Public-Private Joint Ventures," IMF Working Papers 2008/001, International Monetary Fund.
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