TY  - BOOK
AU  - Safari,Meysam
AU  - Ariff,Mohamed
AU  - Mohamad,Shamsher
TI  - Sukuk Securities: New Ways of Debt Contracting
T2  - Wiley Finance Series
SN  - 9781118943755
AV  - HG5818.A3 -- .S243 2014eb 
PY  - 2014///
CY  - Newark
PB  - John Wiley & Sons, Incorporated
KW  - Securities -- Islamic countries
KW  - Electronic books
N1  - Intro -- Sukuk Securities -- Contents -- Preface -- Acknowledgments -- List of Tables -- List of Figures -- About the Authors -- PART ONE The Foundation of Sukuk Securities -- CHAPTER 1 Introduction to Sukuk Markets -- Islamic (Participation) Debt Securities -- The Origin of Sukuk Structures -- Contemporary Sukuk Securities -- How Sukuk Securities Are Priced -- The Structure of This Book -- CHAPTER 2 Sukuk Securities: Definitions, Classification, and Pricing Issues -- Fundamental Principles -- Definitions and Regulations -- Classification Based on Practices -- Conclusion -- CHAPTER 3 Pragmatic and Idealistic Approaches to Structuring Sukuk -- Shari'ah: The Basic Foundations of Islamic Finance and Sukuk -- Sources of Shari'ah -- Ijtihad -- Islamic Financial Principles -- Riba -- Gharar -- Three Approaches to Islamic Finance -- The History of Sukuk -- Sukuk Structures: Pragmatic and Idealistic Approaches -- Shari'ah Requirements for Sukuk Structures -- Sukuk Structures: A Pragmatic Approach -- The AAOIFI Resolution: An Idealistic Approach -- Conclusion -- CHAPTER 4 Contract Design and the Structure of Common Sukuk Securities Issued to Date -- Mudarabah (Partnership) -- Musharakah (Profit Sharing) -- Murabahah (Markup) -- Ijarah (Leasing) -- Salam (Futures) -- Istisna (Working Capital) -- Conclusion -- CHAPTER 5 Samples of Sukuk Issued -- Sukuk Simpanan Rakyat (Malaysia) -- Central Bank of Bahrain -- Khazanah Nasional Berhad (Malaysia) -- Qatar Central Bank -- Nakheel Sukuk (UAE) -- Mahan Airline Company (Iran) -- Conclusion -- CHAPTER 6 Contract Design and the Structure of Sukuk Securities Yet Issued -- Wakalah (Agency) -- Manfaah (Usufruct) -- Muzarah (Farmland Leasing) -- Musaqah (Orchard Leasing) -- Muqarasah (Tree Leasing) -- Conclusion -- CHAPTER 7 Sukuk Securities and Conventional Bonds; Comparison of the Yields of Islamic Securities and Bonds -- Yield Curves -- The Granger Causality Test for the Yields of Sukuk and Conventional Bonds -- Conclusion -- PART TWO Sukuk Securities in Practice -- CHAPTER 8 Regulations with a Difference -- Regulating Sukuk -- The Accounting and Auditing Organization for Islamic Financial Institutions -- The Islamic Financial Services Board -- The International Islamic Financial Market -- Conclusion -- CHAPTER 9 Securitization, Trading, and Rating -- Sukuk Trading -- Sukuk Securitization as IPO -- Disclosure -- Special Purpose Company (SPC) -- Sukuk Rating Methodologies -- Standard &amp -- Poor's -- Moody's -- Fitch -- RAM -- MARC -- Conclusion -- CHAPTER 10 Worldwide Sukuk Markets -- The Geographical Location of Sukuk Securities -- Country of Domicile -- Issuing-Country Risk -- The Effect of Geographical Location on Contract Specifications -- Conclusion -- CHAPTER 11 Regulatory Issues for Sukuk Financial Products -- The Current Sukuk Market -- Regulation and Shari'ah Issues in the Current Sukuk Market -- Current Sukuk Structures -- Disclosures in the Current Sukuk Market -- Do Regulators Have a Role in Sukuk Structures? -- Market Supervision -- Possible Developments and Implications -- The Extension of Sukuk to the Retail Market -- New Sukuk Structures -- Longer-Dated Sukuk -- Pressure for More Trades on Exchanges -- PART THREE Payoff Structures and Sukuk Valuation -- CHAPTER 12 The Foundation and Principles of Islamic Finance -- Foundation -- Principles -- Conclusion -- CHAPTER 13 Cash-Flow Identification and Pattern Recognition for Theoretical Valuation Models -- Zero-Promised Regular-Payment Sukuk -- Fixed-Promised Regular-Payment Sukuk -- Fixed-Promised Regular Payments and Zero-Promised Maturity Payment -- Fixed-Promised Regular Payments and Promised Maturity Payment -- Variable-Promised Payment Sukuk; Growing-Promised Regular Payments and Predetermined Maturity Payment -- Declining-Promised Regular Payments and Zero-Promised Maturity Payment -- Undetermined-Promised Payment Sukuk -- Conclusion -- CHAPTER 14 A Matter of Choice: Sukuk or Bond? -- The Economics of Conventional Bond-Based Funding -- World Markets for Conventional Loans -- The Case against Interest-Based Debt with No Risk Shared -- Are Sukuk an Alternative to Bonds? -- Conclusion -- CHAPTER 15 Challenges and Future Developments -- Valuation -- Liquidity -- Market Widening and Market Depth -- Cost of Issuance -- Variation in Schools of Thought -- Educating More Experts in Sukuk -- Regulatory Sufficiency -- Conclusion -- Bibliography -- Index -- EULA
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ER  -