Islamic Wealth Management
Show Less

Islamic Wealth Management

Theory and Practice

Edited by Mohamed Ariff and Shamsher Mohamad

From an Islamic perspective, although the ownership of wealth is with God, humans are gifted with wealth to manage it with the objective of benefiting the human society. Such guidance means that wealth management is a process involving the accumulation, generation, purification, preservation and distribution of wealth, all to be conducted carefully in permissible ways. This book is the first to lay out a coherent framework on how wealth management should be conducted in compliance with guiding principles from edicts of a major world religion.
Show Summary Details
You do not have access to this content

Chapter 12: The Sukūk market in Malaysia: issues and challenges

Gülsüm Ç. Dolgun and Muhammed H. Dolgun


Sukūk are compliant alternative mode of financing with partial ownership in an asset, or project or business or an investment. The most commonly used such structure is a replication of the cash flows of conventional bonds, as in rental (ijarah) and these are listed in exchanges and traded on secondary markets in some 17 countries: Malaysia accounts for two-thirds of this market. The issues relating to these mostly new debt-like products are discussed in this chapter. Starting with general information, the author provides a literature review and describe how the market has developed in the last two decades. The reader should note the debt-taking principles surrounding this new form of debt-like products, which are aimed to provide specific funding needs of businesses at various stages of their needs. Endorsed by international institutions, this form of debt-taking is considered much safer than the mainstream practices that is based on the firm taking the risk, and the financier taking little risk.

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.