A Thematic Literature Review on Sukuk

Morni, Fareiny

doi:10.32332/ijie.v1i02.1803

Cited by 5 publications

(4 citation statements)

References 8 publications

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“…In line with the development of sukuk, research on sukuk has also been carried out by many previous researchers. The main references in this study are (Robin Putri Febiana Sari D. Fadhullah Hana K., 2013); (Zulkhibri, 2015); (Rashedul Hasan, Abu Umar Faruq Ahmad, 2015); (Amrani et al, 2017); (Hossain, 2018); (Morni F, 2019) and (Rahman, Isa, Tu, et al, 2020) used a systematic literature review method with a thematic approach. They also focus on studying the development of Sukuk from year to year, both in terms of theory, methodology, risk, and research trends.…”

Section: Literature Reviewmentioning

confidence: 99%

Literature Study of Sukuk as a Sharia Securities Instrument

Sokawati Karina,

Sri Pujiningsih,

Makaryanawati

2023

ECBIS

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Sukuk is one of the subjects in the field of Sharia accounting that is growing rapidly in Islamic finance as an alternative investment instrument that has attracted investors' interest in the last few decades. This article aims to provide a deeper understanding of the topics raised, and the theories and methodologies used in research conducted in all countries in the world in the last 10 years (2010-2020). A review of articles from Publish or Perish that is indexed by Scopus and guided by the NVivo R1 application is used to analyze the data. From the results of the study, it was found, firstly about the trend of research on sukuk over the last 10 years by categorizing it from the publishing journal, year of publication, country, and research theme. Second, it was found that there were 29 theories used in previous articles related to the review of the Sukuk literature as an investment in Islamic securities. Furthermore, this theory influences the methods used for research, there are 29 methodologies found in previous articles. Third, the findings regarding research gaps are based on themes for further research

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Section: Literature Reviewmentioning

confidence: 99%

Literature Study of Sukuk as a Sharia Securities Instrument

Sokawati Karina,

Sri Pujiningsih,

Makaryanawati

2023

ECBIS

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“…The finding suggests that practices of Murabaha financing, which is thought to be according to the Islamic financing principles, are far from Sharia complaints and principles (Mansour & Sa'adeh, 2016). So, it is crucial for all the banks who claim the There are some limitations related to the Murabaha Sukuk as in the Islamic financing\g someone cannot sell the commodity without getting the possession of a assets (Morni, 2019). However, this approach is commonly used for less volatile and high liquid assets, which is why it becomes difficult for the London Metal Exchange mostly to decide the actual issuance price of a commodity like metal.…”

Section: Literature Reviewmentioning

confidence: 99%

Rulings of the London Metal Exchange in Islamic Law: An Analysis of Islamic Banking Instruments and Challenges

Alotaibi

2023

J. of Law and Sust. Develop.

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Purpose: The Islamic banking system is recognized for its role in promoting the equal distribution of resources and its emphasis on risk management. This research paper explores the rulings of the London Metal Exchange (LME) within the framework of Islamic law. The main objective is to investigate the involvement and impact of Islamic banking in LME contracts. Methods: The study utilizes both primary data, obtained through interviews with Islamic banks and LME management, and secondary data from previous research. Results: The findings highlight the significant role of Islamic banks in facilitating LME contracts, with Murabaha, Tawarruq, Istisna, Salam, and Kafala identified as the most commonly used instruments in the GCC regions. However, Islamic banks also face challenges, including criticism from Muslim scholars regarding certain practices. Conclusion: Despite these challenges, there are several opportunities for Islamic banks to contribute to the further development of the Islamic financial system. By addressing concerns, increasing awareness, and adhering to Islamic principles, Islamic banks can play a pivotal role in shaping the future of the financial industry.

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“…Penelitian tentang sukuk telah membagi ke dalam dua instrumen yaitu sukuk berbasis pertukaran (Exchange based sukuk) dan sukuk berbasis kemitraan (partnership sukuk). Exchange Based Sukuk merupakan sukuk yang melibatkan transfer aset dari penerbit sukuk ke investor sukuk dan akad yang digunakan dalam sukuk ini antara lain sukuk murabahah, ijarah, bay ' bithamanajil, ,musawamah, Bay' salam, Isthisna', Tawarruq, Bay' al-Inah. Sukuk berbasis kemitraan (partnership sukuk) adalah sukuk dimana investor menyuntikkan dana ke penerbit (emiten) dan mejadi mitra perusahaan dan akad yang digunakan adalah Mudharabah dan Musyarakah (Morni, 2019). Adapun pihak yang terlibat dalam penerbitan sukuk antara lain: emiten atau pihak yang menerbitkan sukuk dan bertanggung jawab kepada investor atas pembayaran pokok dan imbal hasil sukuk.…”

Section: Landasan Teoriunclassified

Praktik Income Smoothing dan Potensi Displaced Commercial Risk Pada Sukuk Mudharabah

Brahim

Muhammad

2020

Al-Mashrafiyah

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This paper aims to discuss the implementation of one of the mudharabah sukuk issued by corporations. Furthermore, the paper specifically discusses indications of Income Smoothing practices and the potential for Displaced Commercial Risk (DCR) in the implementation of sukuk with mudharabah contracts. The type of research uses qualitative methods in the form of library research with a descriptive approach. This paper reveals the fact that there is a practice of Income Smoothing in the distribution of profit sharing to investors in Sukuk Mudharabah PT SMI. On the other hand, mudharabah sukuk also has DCR potential that will be experienced by investors because the nature of the investment is not classified as sufficiently liquid compared to other investment models and has a relatively high risk. Therefore, a special scheme and regulations are needed for sukuk mudaraba in terms of overcoming the problem of income smoothing and preventing the occurrence of DCR. ABSTRAKPaper ini bertujuan membahas implementasi salah satu sukuk mudharabah yang dikeluarkan oleh korporasi. Selanjutnya, paper secara khusus membahas indikasi adanya praktik Income Smoothing dan potensi terjadinya Displaced Commercial Risk (DCR) dalam implementasi sukuk dengan akad mudharabah. Jenis penelitian menggunakan metode kualitatif dalam bentuk riset kepustakaan dengan pendekatan deskriptif. Paper ini mengungkapkan fakta bahwa terdapat praktik Income Smoothing dalam distribusi bagi hasil kepada investor pada Sukuk Mudharabah PT SMI. Disisi lain sukuk mudharabah juga memiliki potensi DCR yang akan dialami oleh investor karena sifat investasi yang tidak tergolong cukup liquid dibandingkan model investasi lainnya serta memiliki risiko yang tergolong tinggi. Oleh karena itu diperlukannya skema dan juga regulasi khusus untuk sukuk mudharabah dalam hal mengeliminasi adanya praktik income smoothing dan mencegah terjadinya DCR.

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A Thematic Literature Review on Sukuk

Cited by 5 publications

References 8 publications

Literature Study of Sukuk as a Sharia Securities Instrument

Literature Study of Sukuk as a Sharia Securities Instrument

Rulings of the London Metal Exchange in Islamic Law: An Analysis of Islamic Banking Instruments and Challenges

Praktik Income Smoothing dan Potensi Displaced Commercial Risk Pada Sukuk Mudharabah

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