Issues of Sukuk Ijarah

Faiza Husnayeni Nahar, Mufti Alam Adha, Dyah Titis Kusuma Wardani

Abstract


Sukuk Ijarah is the most popular sukuk that increase in over the world since its start to introduce in 2001.  Not only Muslim country who issued this sukuk, so do Non-Muslim Country such as Germany, Japan and China. However, there is issue that come up due to the non-existence of Shariah compliance in this structure such as the requirement of sukuk doesn’t meet Maqasid Shari’ah perspective. Therefore, the aims of this paper to discuss some issue in sukuk Ijarah and give solution in order to develop Islamic capital market.



Keywords


Sukuk Ijarah, Maqasid Shari’ah

Full Text:

PDF

References


Al-Amine, M. al-B. M. (2001). The Islamic Bonds Market: Possibilities and Challenges. International Journal of Islamic Financial Services, 3(1), 1--18.

Ali, S. S. (2008). Islamic Capital Markets Products, Regulations and Development. Islamic Economic Studies (Vol. 15).

Ascarya, & Yumanita, D. (2008). Comparing The Development of Islamic Financial / Bond Markets in Malaysia and Indonesia. Islamic Capital Markets: Products, Regulation and Development.

Aziz, M. R. A., & Shahid, M. F. I. (2013). The Structure of Sukuk Ijarah: An Initial Analysis From The Perspective of Maqasid Al-Shariah. Paper Proceeding of the 5th Islamic Economics System Conference (iECONS 2013), "Sustainable, (September), 4–5.

Brugnoni, A. (2008). Shariah governance at work : from asset-based to asset-backed Sukuk. SHIRKAH, (7), 1–26.

Chik, M. N. (2012). Sukuk : Shariah Guidelines for Islamic Bonds. Centre for Banking Studies, Central bank of Sri Lanka.

Ibrahim, A. A. (2006). Developing Governance and Regulation for Emerging Capital and Securities Markets. Washington DC: the Georgetown Law Library.

Securities Comission Malaysia. (2009). The Islamic Securities (Sukuk) Market. Malaysia: LexisNexis Malaysia Sdn Bhd.

Tariq, A. A. (2004). Managing financial risks of sukuk structures. Loughborough University, UK.

Yahya, M., Hussin, M., & Muhammad, F. (2012). Development of Sukuk Ijarah in Malaysia. Journal of Islamic Economics, Banking and Finance, 8(2), 92–101.




DOI: https://doi.org/10.12928/ijiefb.v1i1.257

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.


Ihtifaz : Journal of Islamic Economics, Finance, and Banking

Kampus 4 Universitas Ahmad Dahlan
Jl. Ring Road Selatan, Tamanan, Banguntapan, Bantul, Daerah Istimewa Yogyakarta 55191
Telp. (0274) 563515; Fax. (0274) 564604
E-mail : ihtifaz@uad.ac.id 


p-ISSN: 2622-4755 | e-ISSN: 2622-4798


View My Stats