The Islamic Sukuk and its importance for the economy: global experiences | ||||
| المجلة العلمية للبحوث والدراسات التجارية | ||||
| Volume 36, Issue 4, December 2022, Page 27-59 PDF (1.41 MB) | ||||
| Document Type: المقالة الأصلية | ||||
 View on SCiNiTO | ||||
| Authors | ||||
| Fouad Abo Steit* ; May Hassan* ; Hossam El-Din Mostafa Abdel-Rehem* | ||||
| economics and foreign trade, faculty of commerce and business administration, Helwan university | ||||
| Abstract | ||||
| The main objective of the study is to examine the importance of using Islamic sukuk as a tool of financing by analyzing the role of sukuk as an instrument for capital market development and resource mobilization and as an alternative financing tool for the economic development of the public and private sectors and the effect of sukuk on the economic growth in the largest sukuk issuer countries in the world. The research showcases 4 countries in different stages of sukuk market development namely, Malaysia, KSA, Indonesia and UAE. The study is conducted by analyzing the effect of issuing sukuk on the economic growth of the mentioned countries through using annual data over the period 2001-2019 of sukuk issuances as a proxy of the size of the sukuk market, collected from the annual sukuk reports of the International Islamic Financial Market (IIFM), as well as the GDP as a proxy of the economy size in addition to the inflation rate over the same period through the World Bank’s data. Another objective of the study is to identify the Islamic sukuk as a relatively new financial markets instrument, by discussing the emergence of Islamic sukuk through history, identify the meaning of Islamic sukuk and their different types, their features and why sukuk are important, and the differences between the Islamic sukuk and the conventional financial instruments (Bonds and Stocks). | ||||
| Keywords | ||||
| Islamic sukuk; financial instruments; global experiences; economic growth; GDP | ||||
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