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Islamic Finance: Issues in Sukuk and Proposals for Reform

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This collection of essays brings together leading scholars and practitioners to discuss contemporary issues in the rapidly-expanding sukuk market, and debates the challenges facing it since the 2008 financial crisis and a number of high profile sukuk defaults. It looks in particular at issues of Shari‘ah compliance, the issue of replication in Islamic finance, the need to have a true sale in the asset securitisation process, and the issue of sukuk defaults. It is highly recommended for practitioners, scholars and students of Islamic finance.

The contributors are Abdul Karim Abdullah, Mohammed Imad Ali, Muhammad Al-Bashir Muhammad Al-Amineo, Rafe Haneef, Mohammad Hashim Kamali, Nermin Klopic, Raja Teh Maimunah, Faizal Ahmad Manjoo, Abbas Mirakhor, Sirajulhaq Hilal Yasini, and Sheila Ainon Yussof.


“In a relatively short space of time the sukuk industry has become the most vibrant chapter of IBF.  Rapid progress has, however, given rise to very many questions.  This book provides insightful responses to topical questions that  the students and scholars of Shari’ah would find refreshing and relevant.” — Sheikh Nizam Yaqubi, Shariah scholar and advisor to numerous Islamic financial and institutions worldwide

“The papers in this volume contributed by scholars and practitioners demonstrate that Shari’ah compliance in sukuk structuring remains a challenge.  They also remind us of the need to resolve the issue of overlapping jurisdictions that govern sukuk under the common law and the Shari’ah.  This book will be of interest to members of the legal profession, especially in the corporate sector, and in Islamic banking and finance.” — Tun Abdul Hamid Mohamad, former Chief Justice of Malaysia


About the Editors
Professor Mohammad Hashim Kamali is the founding chairman and CEO of the International Institute of Advanced Islamic Studies (IAIS) in Malaysia, and is a leading authority in Islamic jurisprudence, Islamic finance and human rights in Islamic law. A. K. Abdullah is Research Fellow at the IAIS. He previously lectured at several private institutions of higher learning both in Canada and in Malaysia, and also at the University Sains Islam Malaysia (USIM).

Additional information

Weight 0.320 kg

The Islamic Foundation