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Browsing: Sukuk
- Unlike conventional bonds that generate returns through fixed interest payments, Sukuk generates returns through the ownership of underlying assets, thereby avoiding the prohibitions of Riba (interest) and excess Gharar (uncertainty).
- Global Sukuk market has witnessed significant growth over the last two decades, diversifying its presence across regions such as the Middle East, Southeast Asia, Europe, and Africa.
- The outlook for the sukuk market indicates a continued upward trend, with projections suggesting it will reach $2,160.55 billion by 2028.
Sukuk, commonly known as Islamic bonds, represent a unique financial instrument in the context of Islamic finance, distinguished by their adherence to Shariah compliance. Unlike conventional bonds that generate returns through fixed interest payments, Sukuk generates returns through the ownership of underlying assets, thereby avoiding the prohibitions of Riba (interest) and excess Gharar (uncertainty).
This Shariah-compliant structure renders Sukuk an appealing option for both Muslim and non-Muslim investors seeking ethical and socially …
While considerably new, Islamic Banking and Finance has now taken firm roots in Russia and other Commonwealth Independent States (CIS) countries are following suit.
The total volume of Islamic Banking and Finance has now exceeded $2.6 trillion globally. This amount represents transactions, assets and investments by over 2,500 Islamic banking and financial institutions around the global.
In the modern era, Islamic banking and finance can be traced back to the 1960s from Egypt and Malaysia and its dramatic spread over the Middle East, Africa and Europe. Interestingly, while Islamic banking and finance was slow to take foot in Commonwealth Independent States (CIS) countries, its unprecedented growth over the last few years indicates that CIS countries are the emerging Islamic banking and finance market for the future.
Some well known CIS countries include Russia, Armenia, Kazakhstan, Uzbekistan, Tajikistan, Kyrgyzstan, Turkmenistan and Azerbaijan.
“The delay for Islamic finance initiative in CIS countries …