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Sukuk: History and Development

Sukuk: History and Development
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Author(s): Essia Ries Ahmed (University of Nizaw, Oman), Aminul Islam (Universiti Malaysia Perlis, Malaysia)and Fathyah Hashim (Universiti Sains Malaysia, Malaysia)
Copyright: 2020
Pages: 28
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.ch036

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Abstract

The chapter reviews and describes the history and development of Sukuk. It starts with the basic concept of Sukuk, its history and the basic foundations of Sukuk in Shari'ah. The chapter also outlines the sources of Shari'ah and the concept of Ijtihad. Basic principles of the Islamic financial system, and the concept of debt and equity in Islam are also discussed. Finally, the chapter continues with an outline of the development of the Sukuk market and the types of Sukuk structures.

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