Social sukuk: a new mechanism to fund social services / Saadiah Mohamad … [et al.]

Mohamad, Saadiah and Othman, Jaizah and Lehner, Othmar and Muda, Ruhaini (2017) Social sukuk: a new mechanism to fund social services / Saadiah Mohamad … [et al.]. Journal of Emerging Economies & Islamic Research, 5 (1). pp. 1-13. ISSN 2289-2559

Abstract

While the premise of Islamic finance embraces the principles of maqasid al-shariah and risk sharing with claims to social justice and welfare, the direct impact of the modern Islamic finance industry and its contribution to the social sector has been limited. This paper examines the claim among critics that there is an inherent weakness of the present day Islamic banking and finance in terms of its underdeveloped social sector and argues for the need for new models that will enhance a proliferation of shariah compliant financial products for solutions in the social sector. The paper examines the emergence in Social finance of social bonds as new financing tools targeting on social needs and problems that otherwise would not be tackled. This paper discusses the benefits of structuring such a shariah compliant product and makes recommendations for structuring this new asset class referred to in this paper as social sukuk.

Metadata

Item Type: Article
Creators:
CreatorsEmail / ID. Num
Mohamad, SaadiahUNSPECIFIED
Othman, JaizahUNSPECIFIED
Lehner, OthmarUNSPECIFIED
Muda, RuhainiUNSPECIFIED
Subjects: H Social Sciences > HG Finance > Investment, capital formation, speculation > Securities. Fixed-income securities
H Social Sciences > HG Finance > Investment, capital formation, speculation > Securities. Fixed-income securities > Bonds
Divisions: Universiti Teknologi MARA, Selangor > Puncak Alam Campus > Faculty of Business and Management
Journal or Publication Title: Journal of Emerging Economies & Islamic Research
Journal: UiTM Journal > Journal of Emerging Economies and Islamic Research (JEEIR)
ISSN: 2289-2559
Volume: 5
Number: 1
Page Range: pp. 1-13
Official URL: http://www.jeeir.com/v2/index.php/33-current/2017/...
Item ID: 32219
Uncontrolled Keywords: Socially responsible investment, (SRI), Social impact bond (SIB) Shariah, compliant, Islamic finance, Social finance
URI: http://ir.uitm.edu.my/id/eprint/32219

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