Sukuk Markets
Sukuk Markets — professional financial education from Rondanini Publishing Ltd.
Sukuk Markets
Executive Summary
Sukuk are Sharia-compliant financial certificates that function as Islamic alternatives to conventional bonds. The global sukuk market has grown to over $700 billion outstanding, with significant issuance from Malaysia, Saudi Arabia, UAE, Indonesia, and increasingly from non-Muslim majority countries seeking to access Islamic capital pools. Understanding sukuk structures and market dynamics is essential for fixed income professionals operating in global markets.
Sukuk structures are based on Quranic principles requiring asset-backing and prohibiting interest:
These verses establish that financial instruments must be based on real assets and mutual consent, not debt obligations with predetermined interest—the fundamental principle underlying sukuk structures.
This module provides comprehensive coverage of sukuk types, structures, pricing, and investment considerations. For practitioners and consultants operating in global fixed income, sukuk literacy supports issuance, investment, and Sharia-compliant mandates; it directly affects funding diversity, client mandates, and advisory work on Islamic capital markets—and supports book and consulting value.