Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed.
Sukuk (Islamic bonds) are the Shariah (Islamic law) instrument that serves as an alternative to conventional bonds that are used in the modern capital market. In theory, sukuk represent a form of equity as they represent certificates conferring ownership to holders of an asset or pool of assets or c...
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| Format: | Article |
| Language: | English |
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Universiti Teknologi Mara Selangor
2019
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| Online Access: | https://ir.uitm.edu.my/id/eprint/32289/1/AJ_RAFISAH%20MAT%20RADZI%20JEEIR%20B%2019.pdf |
| _version_ | 1796903412341669888 |
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| author | Mat Radzi, Rafisah Muhamed, Nurul Aini |
| author_facet | Mat Radzi, Rafisah Muhamed, Nurul Aini |
| author_sort | Mat Radzi, Rafisah |
| collection | UITM |
| description | Sukuk (Islamic bonds) are the Shariah (Islamic law) instrument that serves as an alternative to conventional bonds that are used in the modern capital market. In theory, sukuk represent a form of equity as they represent certificates conferring ownership to holders of an asset or pool of assets or claim to its cash flows. In practice, they have become known as Islamic bonds with their investors holding debt. Following the question of whether sukuk are debt or equity, this paper aims to classify sukuk from the perspective of regulatory bodies and credit rating agencies. Furthermore, to what extent the innovations in this Islamic instrument make it differ substantially from conventional bonds in practice will be examined. |
| first_indexed | 2024-03-06T02:19:43Z |
| format | Article |
| id | oai:ir.uitm.edu.my:32289 |
| institution | Universiti Teknologi MARA |
| language | English |
| last_indexed | 2024-03-06T02:19:43Z |
| publishDate | 2019 |
| publisher | Universiti Teknologi Mara Selangor |
| record_format | dspace |
| spelling | oai:ir.uitm.edu.my:322892020-07-16T08:24:07Z https://ir.uitm.edu.my/id/eprint/32289/ Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed. jeeir Mat Radzi, Rafisah Muhamed, Nurul Aini Investment, capital formation, speculation Securities. Fixed-income securities Bonds Sukuk (Islamic bonds) are the Shariah (Islamic law) instrument that serves as an alternative to conventional bonds that are used in the modern capital market. In theory, sukuk represent a form of equity as they represent certificates conferring ownership to holders of an asset or pool of assets or claim to its cash flows. In practice, they have become known as Islamic bonds with their investors holding debt. Following the question of whether sukuk are debt or equity, this paper aims to classify sukuk from the perspective of regulatory bodies and credit rating agencies. Furthermore, to what extent the innovations in this Islamic instrument make it differ substantially from conventional bonds in practice will be examined. Universiti Teknologi Mara Selangor 2019-05 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/32289/1/AJ_RAFISAH%20MAT%20RADZI%20JEEIR%20B%2019.pdf Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed. (2019) Journal of Emerging Economies and Islamic Research <https://ir.uitm.edu.my/view/publication/Journal_of_Emerging_Economies_and_Islamic_Research/>, 7 (2). pp. 1-10. ISSN 2289 - 2559 http://www.jeeir.com/v2/index.php/45-current/2019/vol-7-no-2-2019/290-are-sukuk-debt-or-equity-a-classification-of-sukuk-by-regulatory-bodies-and-credit-rating-agencies |
| spellingShingle | Investment, capital formation, speculation Securities. Fixed-income securities Bonds Mat Radzi, Rafisah Muhamed, Nurul Aini Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed. |
| title | Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed. |
| title_full | Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed. |
| title_fullStr | Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed. |
| title_full_unstemmed | Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed. |
| title_short | Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies / Rafisah Mat Radzi and Nurul Aini Muhamed. |
| title_sort | are sukuk debt or equity a classification of sukuk by regulatory bodies and credit rating agencies rafisah mat radzi and nurul aini muhamed |
| topic | Investment, capital formation, speculation Securities. Fixed-income securities Bonds |
| url | https://ir.uitm.edu.my/id/eprint/32289/1/AJ_RAFISAH%20MAT%20RADZI%20JEEIR%20B%2019.pdf |
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