Promoting macroeconomic objectives such as sustainability and acheiving endogenous and viable economic growth are the purposes of all economic systems. Increasing growth of financial methods and development of these systems drives from this reality that the development of financial system is an integral part of economic system development. By assuming Islamic financial systems, it can be concluded that they do not permit the use of current financial methods since usury is forbidden in Islam. So, they attempts to create Islamic financial instruments. As an islamic and non-usury financial instrument, Sukuk has found a suitable position among islamic governments and companies.

The current paper investigates the application of Sukuk in risk management and liquidity control through experiences of other islamic countries by applying a descriptive-analyctic method. Results show that Sukuk can be an appropriate instrument to manage risk and control liquidity. It can also sets the ground for growth and development of financial and economic systems in the region.