DEVELOPMENT OF ṢUKŪK IN THE STATE OF KUWAIT, ITS CHALLENGES AND PROSPECTS

Waleed S. A. S. Alowaiyesh, Mohamad Taqiuddin Mohamad, Mohd Shahid Mohd Noh
2020 Jurnal Syariah  
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 in
more » ... mework for ṣukūk in the State of Kuwait after giving a brief history of its development. Through qualitative analysis of news sources, country reports, and academic papers, this study attempts to identify the major challenges and hurdles facing the development of ṣukūk despite the illustrious track record of the Islamic Finance industry in
doi:10.22452/js.vol28no2.4 fatcat:pvbc6vdzijed7itarcralabbxq