Aman, Ameen Ullah and Mohamed Naim, Asmadi and Isa, Mohamad Yazid (2019) What Determines Sukuk Market Development? New Theoretical Insights. Global Review of Islamic Economics and Business, 7 (1). 021-027. ISSN 2338-7920 (O) / 2338-2619 (P)

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Abstract

In recent past, the Asian economies faced various financial crises, 1997 & 2008, because of underdeveloped or small capital markets. Most of the countries continued to heavily depend on the mere banking system for sovereign and corporate financing needs which made the region repeatedly vulnerable to the crises state. Therefore, the last decade has witnessed the remarkable growth in the alternative arrangement in the form sukuk and bond markets. The academic literature on the topic mainly focuses on bond market ignoring largely the determinants of sukuk market. Using content analysis approach, this conceptual study proposes the theoretical relationships of sukuk with some new possible determining factors along with some other factors which have not received enough attention in the literature. The study focuses on the dynamics of foreign capital inflows, macroeconomic and financial variables with respect to sukuk market development

Item Type:	Article
Uncontrolled Keywords:	Sukuk Market Development, Theoretical Relationship, Financial Crisis, Foreign Capital Inflows, Macroeconomic Factors
Subjects:	H Social Sciences > HG Finance
Divisions:	Islamic Business School
Depositing User:	Mdm. Sarkina Mat Saad @ Shaari
Date Deposited:	28 Apr 2024 10:37
Last Modified:	28 Apr 2024 10:37
URI:	https://repo.uum.edu.my/id/eprint/30739

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