Sukuk Securities

Beschreibung

In 2010 the World Bank recommended sukuk as the best form of lending for growth in developing countries. Since that time, the value of new issues has grown at an astonishing rate of 45% per year. Sukuk Securities offers regulators, investors, analysts, and students a comprehensive resource that includes a thorough analysis of Islamic debt instruments and information on the latest developments in the burgeoning sukuk securities market. Mohamed Ariff--an expert on the topic of Islamic finance--offers insights into the concepts, design features, contract structures, yields, and payoffs in all the global sukuk markets. Sukuk contracts are based on an entrepreneur and a financier taking a business risk together and sharing the profits, while prepared to incur losses together if the venture does not prove successful. The Sukuk marketplace currently spans over twelve countries, and is expected to further develop as a chosen form of fundraising in the capital markets space. Sukuk Securities addresses the most common questions and concerns about the sukuk marketplace. The author clearly defines and explains what a sukuk security is and explains how it should be classified vis-à-vis bond markets. The book also explores how a sukuk security is designed and reveals how the various types of sukuk contracts can match the needs of a vast range of issuers in the debt capital markets space--from the agricultural to manufacturing industries. Sukuk Securities clarifies why this form of funding is more suited to today's market and investment environment, compared to conventional forms of debt contracting, and details the differences between the sukuk market and the common bond market. Sukuk Securities is designed to be an invaluable addition to the library of any Islamic finance professional or serious student of finance and banking.
The essential guide to global sukuk markets worldwide Sukuk Securities provides complete information and guidance on the latest developments in the burgeoning sukuk securities markets. Written by leading Islamic finance experts, this essential guide offers insight into the concepts, design features, contract structures, yields, and payoffs in all twelve global sukuk markets, providing Islamic finance professionals with an invaluable addition to their library. The first book to fully introduce the market, this book provides a detailed overview of the sukuk market, with practical guidance toward applying these instruments in real-world scenarios. Readers will learn how sukuk securities are regulated and the issues that arise from regulations, and gain insight into the foundation and principles of Islamic finance as applied to these instruments. Extensive tables illustrate t-test comparisons between conventional bonds and sukuk, risk factors, and the issuance of different types of sukuk securities by country to give readers a deeper understanding of the markets. In 2010, the World Bank recommended sukuk as the best form of lending for growth in developing countries; since then, the value of new issues has grown at 45 percent per year. The market's present size is close to US $1,200 billion, with private markets in major financial centers like London, Zurich, and New York. This book provides comprehensive guidance toward understanding and using these instruments, and working within these markets. * Get acquainted with the sukuk market, definitions, classification, and pricing * Learn the different approaches to structuring and contract design * Discover how sukuk is applied, including regulations, ratings, and securitization * Examine payoff structures and suggested sukuk valuation in the context of Islamic finance principles With the sukuk market growing the way it is, regulators, investors, and students need to fully understand the mechanisms at work. Sukuk Securities is the complete guide to the sukuk markets, with expert insight. July 2014 saw the first sukuk listing in London. Hong Kong and Seoul have also entered this niche market. Predictions are that there will be continued high growth of sukuk debt markets around the world, all providing targeted funding via sukuk contracting modes.

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