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Navigating the paradigm shift in Malaysia s sustainable responsible investment sukuks

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dc.contributor.authorZakariya Mustapha
dc.contributor.authorSherin Kunhibava
dc.contributor.authorAishath Muneeza
dc.contributor.authorMaryam Khalid
dc.date.accessioned2024-11-11T03:28:23Z
dc.date.available2024-11-11T03:28:23Z
dc.date.issued2024
dc.description.abstractSustainable Responsible Investment (SRI) Sukuk are instruments aimed at improving the condition of societies and communities. Sukuk itself are Shari ah compliant alternatives to bonds or technically they are certificates of equal value represent fractional ownership or investment in assets, structured according to Shari ah principles. The Sustainable and Responsible Investment Sukuk Framework was issued by the Securities Commission of Malaysia for Sukuk that funds green projects, social projects or projects that develops waqf (endowment) assets. This note examines the use of Sukuk for more than just commercial gain, this paradigm shift is welcomed and necessary to stay true to the Maqasid al Shari ah (the goals and objectives of Shari ah) to provide ease for people. In this note, two examples of SRI Sukuk namely Sukuk Prihatin (Empathetic Sukuk) and Ihsan Sukuk (Excellence Sukuk) will be examined. The SRI Sukuk focusses on positive social change, while there is a return on investment there is also an additional emphasis on enabling less privileged segments of the society to benefit from the funds provided through the issuance of the Sukuk. The objective of this note is to explain SRI Sukuk framework and examine case studies and provide recommendations for future SRI Sukuk issuances and understand how the Maqasid al Shari ah (the goals and objectives of Shari ah) is being pursued.1 The methodology used in this note is non-doctrinal and document analysis. Secondary sources were reviewed to answer the research objective.en_US
dc.identifier.citationMustapha, Z., Kunhibava, S., Muneeza, A., & Khalid, M. (2024). Navigating the Paradigm Shift in Malaysia's Sustainable Responsible Investment Sukuks. Manchester Journal of Transnational Islamic Law & Practice, Volume 20, Issue 3, pp. 457-464en_US
dc.identifier.issn2633-6626
dc.identifier.urihttps://www.electronicpublications.org/stuff/1149
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/4132
dc.languageEnglish
dc.language.isoengen_US
dc.publisherElectronicpublcations.org Ltden_US
dc.rights2024. Electronicpublcations.org Ltd
dc.sourceSEDONA
dc.subjectSRI Sukuken_US
dc.subjectSocial Sukuken_US
dc.subjectSukuk Ihsanen_US
dc.subjectSukuk Prihatinen_US
dc.titleNavigating the paradigm shift in Malaysia s sustainable responsible investment sukuksen_US
dc.typeJournal Articleen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
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