Purpose: The aim of this study is to systematically analyze and map the literature on the performance of sukuk using a database obtained from Scopus.
Design/Methodology/Approach: The study used a method adopted from the PRISMA system where as many as 478 journals were selected to become fifteen full-text journals which were then analyzed and classified according to their findings. This literature study applies the inclusion criteria of article selection, including sukuk studies that make performance the main study.
Findings: The results of the study are presented in descriptive and thematic qualitative synthesis. The descriptive findings section explains that sukuk performance studies have experienced a growth in the number of studies until 2022. The study also describes the most cited articles in the sukuk performance area. In addition, this study also explains the findings in the form of Word Cloud and TreeMap analysis to summarize the main themes in the sukuk study. The study found and documented the variables the researchers used to measure sukuk investment performance. The study also classifies the existing literature regarding developing and evaluating Sukuk's performance.
Research, practical & social implications: The study presented the results of research developments regarding the performance of sukuk so that researchers can determine the extent of research progress and opportunities for further research. In addition, this research also contributes to providing information to investors by displaying the results of evaluations and developments in the performance of sukuk to make it easier for investors to measure the risk of investing in sukuk.
Originality/Value: The value of the study is the first literature study to focus on the performance of sukuk as an instrument of Islamic finance.