•  
  •  
 

International Finance and Accounting

Abstract

This article analyzes the nature and importance of Islamic securities in today’s market, as well as their role in the international financial markets. The specifics of Islamic securities have been studied by different scholars' approaches. The main features of Islamic finance and Islamic securities, the similarities and differences between Islamic securities, stocks and bonds are studied. It also highlights important aspects of the issuance of Islamic securities in the financial markets of Muslim countries and countries with small Muslim populations. The volume of sukuk securities issued worldwide is comparable across countries. Scientific proposals and practical recommendations for the implementation of Islamic securities are given.

References

1. Oʻzbekiston Respublikasi Prezidenti Shavkat Mirziyoyevning 2020-yil 29-dekabrdagi Oʻzbekiston Respublikasi Oliy Majlisiga Murojaatnomasi; https://president.uz/uz/lists/view/4057 . 2. https://lex.uz Oʻzbekiston Respublikasi Prezidentining farmoni PF-6155 03.02.2021 https://lex.uz/docs/-5260791 3. Pegah Zolfaghari. An Introduction to Islamic Securities (Sukuk). // Uppsala Faculty of Law Working Paper 2017:2. – P.42; https://www.jur.uu.se/digitalAssets/563/c_563862-l_3-k_wps2017-2.pdf 4. Sara A Al Balooshi, Maria Chiara Iannino, Pejman Abedifar. Islamic Securities in Corporate Financial Hierarchy. // SSRN Electronic Journal, July 2020. – P.33; 5. Jose Cartas and Qi He. Handbook on Securities Statistics. // Xalqaro Valyuta Fondi (XVF) elektron kutubxonasi XVFning davriy nashri, June 2015. – P. 172; 6. Aktham I. Maghyereh, Hussein Abdoh, Basel Awartani. Connectedness and hedging between gold and Islamic securities: A new evidence from time-frequency domain approaches. // Pacific-Basin Finance Journal, Volume 54, April 2019, Pages 13-28; 7. Kalimullina Madina, (Shamil) Orlov Mikhail. Islamic finance and food commodity trading: is there a chance to hedge against price volatility and enhance food security? // Heliyon 6 (2020). – P. 21; 8. Botirxoʻja Joʻrayev. Islomiy moliyalar va bank tizimi. Tarjima. – T.: “Oʻzbekiston”, 2014. – 464 b. 9. S.Abrorov. Oʻzbekistonda sukuk – islomiy qimmatli qogʻozlarni joriy etish istiqbollari. // Iqtisodiyot fanlari boʻyicha falsafa doktori PhD dissertatsiyasi avtoreferati, Toshkent, 2020. – 7 b. 10. Jose Cartas and Qi He. Handbook on Securities Statistics. // Xalqaro Valyuta Fondi (XVF) elektron kutubxonasi XVFning davriy nashri, June 2015. – P. 172; 11. www.fitchratings.com - Fitch Ratings xalqaro moliyaviy xizmatlar koʻrsatuvchi kompaniya ma’lumotlari; https://www.fitchratings.com/research/islamic-finance/sukuk-issuance-rose-in-2019-as-diversification-continues-11-02-2020#:~:text=2%20billion%20in%202019%2C%20up,by%20an%20uptick%20in%204Q19. 12. www.statista.com – xalqaro moliyaviy koʻrsatkichlar va statistik ma’lumotlar e’lon qilinuvchi rasmiy veb-sayt ma’lumotlari; https://www.statista.com/statistics/649298/distribution-of-sovereign-sukuk-issuance-by-country/

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.