Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs
As a Shari’ah-compliant Islamic bond, Sukuk has attracted much interest from all over the world, particularly in Muslim countries like Bangladesh. Previous studies have confirmed that compared to interest-based bonds, Sukuk based on profitsharing contracts is much more beneficial for investors. Spe...
Saved in:
Main Authors: | , |
---|---|
Format: | Article |
Language: | English |
Published: |
IIUM Press
2023
|
Subjects: | |
Online Access: | http://irep.iium.edu.my/106545/1/106545_Developing%20a%20conceptual%20Shari%E2%80%99ah%20framework.pdf http://irep.iium.edu.my/106545/ https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/748 |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
id |
my.iium.irep.106545 |
---|---|
record_format |
dspace |
spelling |
my.iium.irep.1065452023-09-14T01:57:03Z http://irep.iium.edu.my/106545/ Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs Habibullah, Mohammad Hassan, Rusni BPH437 Sukuk - Islamic Bond BPH72 Economic development. Growth. Sustainable development. Sustainability HB846 Welfare theory As a Shari’ah-compliant Islamic bond, Sukuk has attracted much interest from all over the world, particularly in Muslim countries like Bangladesh. Previous studies have confirmed that compared to interest-based bonds, Sukuk based on profitsharing contracts is much more beneficial for investors. Specifically, in a Muslim-majority country like Bangladesh, Sukuk can attract much more interest because the existing capital market of this country severely lack Shari’ah compliant instruments. The goal of this study is to introduce a Shari’ah-based conceptual framework of Green Sukuk that will be specifically applicable in Bangladesh considering the socio-economic conditions of the common people and the existing legal and regulatory framework of the country. In achieving this objective, a systematic literature review approach is adopted in this study. While creating the Shari’ah framework of Sukuk, importance has been given to Maqasid-al-Shari’ah and the sustainable development goals (SDGs). Emphasis has also been given on ensuring poverty alleviation and the social and economic welfare of people by highlighting the notion of hifz-al-maal (preservation of wealth) and hifz-al-deen (preservation of faith). It is expected that the new Green Sukuk model, once implemented in Bangladesh, will contribute towards achieving the SDGs, which require an unprecedented number of resources to be mobilized. IIUM Press 2023-06-30 Article PeerReviewed application/pdf en http://irep.iium.edu.my/106545/1/106545_Developing%20a%20conceptual%20Shari%E2%80%99ah%20framework.pdf Habibullah, Mohammad and Hassan, Rusni (2023) Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs. Journal of Islamic Finance, 12 (1). pp. 73-82. ISSN 2289-2109 E-ISSN 2289-2117 https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/748 |
institution |
Universiti Islam Antarabangsa Malaysia |
building |
IIUM Library |
collection |
Institutional Repository |
continent |
Asia |
country |
Malaysia |
content_provider |
International Islamic University Malaysia |
content_source |
IIUM Repository (IREP) |
url_provider |
http://irep.iium.edu.my/ |
language |
English |
topic |
BPH437 Sukuk - Islamic Bond BPH72 Economic development. Growth. Sustainable development. Sustainability HB846 Welfare theory |
spellingShingle |
BPH437 Sukuk - Islamic Bond BPH72 Economic development. Growth. Sustainable development. Sustainability HB846 Welfare theory Habibullah, Mohammad Hassan, Rusni Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs |
description |
As a Shari’ah-compliant Islamic bond, Sukuk has attracted much interest from all over the world, particularly in Muslim
countries like Bangladesh. Previous studies have confirmed that compared to interest-based bonds, Sukuk based on profitsharing contracts is much more beneficial for investors. Specifically, in a Muslim-majority country like Bangladesh, Sukuk can attract much more interest because the existing capital market of this country severely lack Shari’ah compliant
instruments. The goal of this study is to introduce a Shari’ah-based conceptual framework of Green Sukuk that will be
specifically applicable in Bangladesh considering the socio-economic conditions of the common people and the existing
legal and regulatory framework of the country. In achieving this objective, a systematic literature review approach is
adopted in this study. While creating the Shari’ah framework of Sukuk, importance has been given to Maqasid-al-Shari’ah
and the sustainable development goals (SDGs). Emphasis has also been given on ensuring poverty alleviation and the social
and economic welfare of people by highlighting the notion of hifz-al-maal (preservation of wealth) and hifz-al-deen
(preservation of faith). It is expected that the new Green Sukuk model, once implemented in Bangladesh, will contribute towards achieving the SDGs, which require an unprecedented number of resources to be mobilized. |
format |
Article |
author |
Habibullah, Mohammad Hassan, Rusni |
author_facet |
Habibullah, Mohammad Hassan, Rusni |
author_sort |
Habibullah, Mohammad |
title |
Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs |
title_short |
Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs |
title_full |
Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs |
title_fullStr |
Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs |
title_full_unstemmed |
Developing a conceptual Shari’ah framework of Green Sukuk for Bangladesh: its implications on social welfare by realizing SDGs |
title_sort |
developing a conceptual shari’ah framework of green sukuk for bangladesh: its implications on social welfare by realizing sdgs |
publisher |
IIUM Press |
publishDate |
2023 |
url |
http://irep.iium.edu.my/106545/1/106545_Developing%20a%20conceptual%20Shari%E2%80%99ah%20framework.pdf http://irep.iium.edu.my/106545/ https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/748 |
_version_ |
1778160476009529344 |
score |
13.187197 |