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Coverage of the Risk of Murabeheh Sukuk (Islamic Bond) in Islamic Investment Market
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Abstract: (4463 Views) |
| Risk management is a pretty dynamic phenomenon that has brought about dramatic advances in the world finance and banking industries in the past few decades. But in Islamic finance as well as Islamic banking, especially in Iran, there has been little effort to manage risks and to deal with the potential risks that threaten these activities. Sukuk, as a representative of Islamic financial instruments, is inherently more risk-taking than other financial instruments. It must be acknowledged that although the Islamic financial instruments are rapidly expanding in financial markets, in terms of management and risk coverage, they have not yet reached the same level as the growth of the Islamic financial industry. Therefore, the need to paying attention to planning the risk coverage of these tools in the Islamic financial markets is felt more than ever. One of these financial instruments is Murabahah Sukuk, enjoying a significant share of the total in Islamic markets. If the appropriate mechanism for liquidity and risk management of Murabahah is set up, can be an appropriate tool for financing the government, investors, and economic agencies so that in addition to the acceptance of the general investors, especially the risk-averse followed by the prosperity of the country's capital market, the economic and social damages of the issuance of these bonds are minimized. The present study taking advantage of the related literature has struggled to identify the risks of these bonds, and more importantly to explain the ways to manage the bonds in the capital market. The study, also examines the hypothesis that Murabahah Sukuk risk coverage in the capital market is possible, and buyers of these bonds in the capital market will face much lower risk than expected returns |
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| Keywords: risk, risk management, murabahah, murabaha sukuk, Islamic financial instrument |
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Full-Text [PDF 298 kb]
(841 Downloads)
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Article type: Applicable |
Subject:
Special
Received: 2018/02/24 | Accepted: 2018/02/24 | Published: 2018/02/24
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