Economic and Social Impacts of Sovereign Sukuk

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Author(s): Magda Ismail Abdel Mohsin (International Centre for Education in Islamic Finance, Malaysia), Ishraga Khattab (Sudan Academy for Banking and Financial Sciences, Sudan)and Mhd Osama Alchaar (International Centre for Education in Islamic Finance, Malaysia)
Copyright: 2020
Pages: 20
Source title: Handbook of Research on Theory and Practice of Global Islamic Finance
Source Author(s)/Editor(s): Abdul Rafay (University of Management and Technology, Pakistan)
DOI: 10.4018/978-1-7998-0218-1.ch037

Keywords: Accounting & Finance / Accounting and Finance / Business & Management / Business Science Reference

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Abstract

This chapter explores the economic and social impacts of sovereign Sukuk in Sudan and its unique challenges. The first of its kind, this research collected primary data from different groups of investors of Sudanese governmental Sukuk. Adopting a qualitative approach (interview questions and open and closed-ended surveys), four sets of questions were distributed to four groups (individual investors, institutional investors, government officials, and academics). The survey found that despite Sukuk's influence in activating the economy and financial markets, and encouraging savings awareness, the market in Sudan is facing many challenges. Accordingly, it is recommended that Sukuk issuances should appeal to a wider audience including retail investors. The ensuing system, which could likewise be adopted by other countries, would generate more liquidity for development projects and may prove helpful for developed Sukuk markets. Additionally, evolving capital markets would enhance the economic and social impact of governmental Sukuk.

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Economic and Social Impacts of Sovereign Sukuk

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