{"product_id":"sukuk-securities-9781118937877","title":"Sukuk Securities","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eThe essential guide to global sukuk markets worldwide\u003cbr\u003e\u003cbr\u003e\u003c\/b\u003e\u003cb\u003e\u003ci\u003eSukuk Securities\u003c\/i\u003e\u003c\/b\u003e provides complete information and guidance on the latest developments in the burgeoning sukuk securities markets. Written by leading Islamic finance experts, this essential guide offers insight into the concepts, design features, contract structures, yields, and payoffs in all twelve global sukuk markets, providing Islamic finance professionals with an invaluable addition to their library. The first book to fully introduce the market, this book provides a detailed overview of the sukuk market, with practical guidance toward applying these instruments in real-world scenarios. Readers will learn how sukuk securities are regulated and the issues that arise from regulations, and gain insight into the foundation and principles of Islamic finance as applied to these instruments. Extensive tables illustrate t-test comparisons between conventional bonds and sukuk, risk factors, and the issuan\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003eList of Tables xv\u003c\/p\u003e \u003cp\u003eList of Figures xvii\u003c\/p\u003e \u003cp\u003eAbout the Authors xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART ONE \u003c\/b\u003e\u003cb\u003eThe Foundation of Sukuk Securities 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 \u003c\/b\u003e\u003cb\u003eIntroduction to Sukuk Markets 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIslamic (Participation) Debt Securities 4\u003c\/p\u003e \u003cp\u003eThe Origin of Sukuk Structures 6\u003c\/p\u003e \u003cp\u003eContemporary Sukuk Securities 9\u003c\/p\u003e \u003cp\u003eHow Sukuk Securities Are Priced 10\u003c\/p\u003e \u003cp\u003eThe Structure of This Book 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 \u003c\/b\u003e\u003cb\u003eSukuk Securities: Definitions, Classification, and Pricing Issues 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFundamental Principles 14\u003c\/p\u003e \u003cp\u003eDefi nitions and Regulations 20\u003c\/p\u003e \u003cp\u003eClassifi cation Based on Practices 22\u003c\/p\u003e \u003cp\u003eConclusion 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 \u003c\/b\u003e\u003cb\u003ePragmatic and Idealistic Approaches to Structuring Sukuk 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eShariah : The Basic Foundations of Islamic Finance and Sukuk 32\u003c\/p\u003e \u003cp\u003eIslamic Financial Principles 35\u003c\/p\u003e \u003cp\u003eThree Approaches to Islamic Finance 40\u003c\/p\u003e \u003cp\u003eThe History of Sukuk 41\u003c\/p\u003e \u003cp\u003eSukuk Structures: Pragmatic and Idealistic Approaches 44\u003c\/p\u003e \u003cp\u003eConclusion 55\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 \u003c\/b\u003e\u003cb\u003eContract Design and the Structure of Common Sukuk Securities Issued to Date 57\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMudarabah (Partnership) 57\u003c\/p\u003e \u003cp\u003eMusharakah (Profit Sharing) 59\u003c\/p\u003e \u003cp\u003eMurabahah (Markup) 62\u003c\/p\u003e \u003cp\u003eIjarah (Leasing) 64\u003c\/p\u003e \u003cp\u003eSalam (Futures) 67\u003c\/p\u003e \u003cp\u003eIstisna (Working Capital) 69\u003c\/p\u003e \u003cp\u003eConclusion 70\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 \u003c\/b\u003e\u003cb\u003eSamples of Sukuk Issued 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSukuk Simpanan Rakyat (Malaysia) 71\u003c\/p\u003e \u003cp\u003eCentral Bank of Bahrain 73\u003c\/p\u003e \u003cp\u003eKhazanah Nasional Berhad (Malaysia) 74\u003c\/p\u003e \u003cp\u003eQatar Central Bank 74\u003c\/p\u003e \u003cp\u003eNakheel Sukuk (UAE) 75\u003c\/p\u003e \u003cp\u003eMahan Airline Company (Iran) 75\u003c\/p\u003e \u003cp\u003eConclusion 76\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 \u003c\/b\u003e\u003cb\u003eContract Design and the Structure of Sukuk Securities Yet Issued 77\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWakalah (Agency) 77\u003c\/p\u003e \u003cp\u003eManfaah (Usufruct) 78\u003c\/p\u003e \u003cp\u003eMuzarah (Farmland Leasing) 78\u003c\/p\u003e \u003cp\u003eMusaqah (Orchard Leasing) 79\u003c\/p\u003e \u003cp\u003eMuqarasah (Tree Leasing) 79\u003c\/p\u003e \u003cp\u003eConclusion 79\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 \u003c\/b\u003e\u003cb\u003eSukuk Securities and Conventional Bonds 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eComparison of the Yields of Islamic Securities and Bonds 82\u003c\/p\u003e \u003cp\u003eYield Curves 86\u003c\/p\u003e \u003cp\u003eThe Granger Causality Test for the Yields of Sukuk and Conventional Bonds 90\u003c\/p\u003e \u003cp\u003eConclusion 94\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART TWO \u003c\/b\u003e\u003cb\u003eSukuk Securities in Practice 97\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 \u003c\/b\u003e\u003cb\u003eRegulations with a Difference 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRegulating Sukuk 99\u003c\/p\u003e \u003cp\u003eConclusion 105\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 \u003c\/b\u003e\u003cb\u003eSecuritization, Trading, and Rating 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSukuk Trading 107\u003c\/p\u003e \u003cp\u003eSukuk Rating Methodologies 113\u003c\/p\u003e \u003cp\u003eConclusion 123\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 10 \u003c\/b\u003e\u003cb\u003eWorldwide Sukuk Markets 125\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Geographical Location of Sukuk Securities 128\u003c\/p\u003e \u003cp\u003eThe Effect of Geographical Location on Contract Specifications 137\u003c\/p\u003e \u003cp\u003eConclusion 139\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 11 \u003c\/b\u003e\u003cb\u003eRegulatory Issues for Sukuk Financial Products 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Current Sukuk Market 142\u003c\/p\u003e \u003cp\u003eRegulation and Shariah Issues in the Current Sukuk Market 143\u003c\/p\u003e \u003cp\u003eCurrent Sukuk Structures 145\u003c\/p\u003e \u003cp\u003ePossible Developments and Implications 151\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePART THREE \u003c\/b\u003e\u003cb\u003ePayoff Structures and Sukuk Valuation 161\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 12 \u003c\/b\u003e\u003cb\u003eThe Foundation and Principles of Islamic Finance 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFoundation 163\u003c\/p\u003e \u003cp\u003ePrinciples 164\u003c\/p\u003e \u003cp\u003eConclusion 167\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 13 \u003c\/b\u003e\u003cb\u003eCash-Flow Identification and Pattern Recognition for Theoretical Valuation Models 169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eZero-Promised Regular-Payment Sukuk 169\u003c\/p\u003e \u003cp\u003eFixed-Promised Regular-Payment Sukuk 171\u003c\/p\u003e \u003cp\u003eVariable-Promised Payment Sukuk 172\u003c\/p\u003e \u003cp\u003eUndetermined-Promised Payment Sukuk 174\u003c\/p\u003e \u003cp\u003eConclusion 175\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 14 \u003c\/b\u003e\u003cb\u003eA Matter of Choice: Sukuk or Bond? 177\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Economics of Conventional Bond-Based Funding 178\u003c\/p\u003e \u003cp\u003eWorld Markets for Conventional Loans 181\u003c\/p\u003e \u003cp\u003eThe Case against Interest-Based Debt with No Risk Shared 182\u003c\/p\u003e \u003cp\u003eAre Sukuk an Alternative to Bonds? 185\u003c\/p\u003e \u003cp\u003eConclusion 187\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 15 \u003c\/b\u003e\u003cb\u003eChallenges and Future Developments 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eValuation 189\u003c\/p\u003e \u003cp\u003eLiquidity 190\u003c\/p\u003e \u003cp\u003eMarket Widening and Market Depth 191\u003c\/p\u003e \u003cp\u003eCost of Issuance 191\u003c\/p\u003e \u003cp\u003eVariation in Schools of Thought 192\u003c\/p\u003e \u003cp\u003eEducating More Experts in Sukuk 193\u003c\/p\u003e \u003cp\u003eRegulatory Sufficiency 194\u003c\/p\u003e \u003cp\u003eConclusion 195\u003c\/p\u003e \u003cp\u003eBibliography 197\u003c\/p\u003e \u003cp\u003eIndex 209\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49406951358807,"sku":"9781118937877","price":52.5,"currency_code":"GBP","in_stock":false}],"url":"https:\/\/bookcurl.com\/products\/sukuk-securities-9781118937877","provider":"Book Curl","version":"1.0","type":"link"}