Tantangan Konsep Perdagangan Sukuk di Pasar Sekunder
DOI:
https://doi.org/10.21512/bbr.v4i1.1048Keywords:
sukuk, trading, mechanism, investors, secondary, marketAbstract
Sukuk trading mechanisms in most exchange-based secondary market around the globe are somehow depart from the shariah law. The trading mechanisms basis are dominated by bai’ al dayn concept which is against the shariah law. Much of the motives to adopt this concept are to cater conventional investors demand for familiarity in trading mechanism with conventional bond. Though, it may also hamper Muslim-devoted investors to trade their sukuk because of this noncompliance to the shariah law. On the other hand, a trading mechanism that fully complies with the shariah law would probably cause anxiety to conventional investors that comprise much of the investors profile in this contemporary financial environment. This paper that based on the literature study try to proposes a new trading mechanism to minimize the trade-off between conventional and Muslim devoted investors needs in their sukuk trading in exchange-based secondary market.Plum Analytics
References
Ali, S. S. (2008). Islamic Capital Markets. Distance Learning Course No. 8. Islamic Research and Training Institute (IRTI). Islamic Development Bank (IDB). Jeddah.
Ayub, M. (2007). Understanding Islamic Finance. West Sussex, England: John Wiley & Sons.
Brigham, E. F., Gapenski, L. C., and Daves, P. R. (1999). Intermediate Financial Management 6th Edition. Fort Worth, USA: Dryden Press.
Heykal, M. (2006). Analisis Faktor Yang Mempengaruhi Margin Pembiayaan Murabahah Pada Pembiayaan Pemilikan Rumah, Studi Kasus PT Bank Syariah Mandiri, Jakarta: UI.
Jobst, A., Kunzel, P., Mills, P., and Sy, A. (2008). Islamic bond issuance: what sovereign debt managers need to know. International Jounal of Islamic and Middle Eastern Finance and Management. Vol. 1 No. 4, pp. 330-344.
Karim, A. (2012). Regulatory Aspect of Islamic Capital Market. Paper present at International Conference On Islamic Capital Market
Marek, S. (2007). The dawn of sukuk trading, International Securities Finance.
Papazian, A. V. (2007). The global sukuk market: developments and prospects. DIFC Forum.
Perwataatmadja, Karnaen A. (2002). Upaya Memurnikan Pelayanan Bank Syariah, Khusus Pembiayaan Murabahah dan Mudharabah di Indonesia, Artikel, Jakarta
Usmani, M. T. (2002). An Introduction to Islamic Finance. The Hague, Netherlands. Pp: Kluwer Law International,
Downloads
Published
Issue
Section
License
Authors who publish with this journal agree to the following terms:
a. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License - Share Alike that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
b. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
c. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
USER RIGHTS
All articles published Open Access will be immediately and permanently free for everyone to read and download. We are continuously working with our author communities to select the best choice of license options, currently being defined for this journal as follows: Creative Commons Attribution-Share Alike (CC BY-SA)