A comparative analysis of risk-return characteristics between Sukuk (Islamic bonds) and conventional bonds
[Thesis]
Shalhoob, Hebah Shafeq
Ahmad, Farooq ; Beloucif, Ahmed
Robert Gordon University
2016
Thesis (Ph.D.)
2016
Sukuk are an important mode of financing in the Islamic financial system. As usury (interest) is prohibited in Islam, conventional bonds are not suitable for investors in Islamic countries. Since their launch in the 1980s, Sukuk have gained recognition and popularity as a substitute for conventional bonds. However, their unique features mean that Sukuk are not always clearly understood. The aim of this study is to analyse the differences and similarities between Sukuk and conventional bonds in terms of their risk and return characteristics.