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Ṣukūk emerged in the last two decades as a noteworthy contender for conventional bonds. Their wider appeal for Muslim populations around the world led to more issuers preferring to issuing ṣukūk over conventional bonds. This is the case for most countries in the Islamic World, but not Kuwait, despite it being a world-renowned pioneer and hub for innovation and creativity in Islamic Finance and Shariah-compliant capital markets. This study examines the legal and regulatory framework for ṣukūk indoi:10.22452/js.vol28no2.4 fatcat:pvbc6vdzijed7itarcralabbxq