Islamic Capital Market for Social Development: Innovating Waqf Mobile Sukuk in Sub-Saharan Africa
Islamic Capital Market for Social Development: Innovating Waqf Mobile Sukuk in Sub-Saharan Africa
Author(s): Samsad Jahan, Aishath Muneeza, Siti Hajar BaharuddinSubject(s): Business Economy / Management, Islam studies, Government/Political systems, Social development, Economic development, Accounting - Business Administration, ICT Information and Communications Technologies
Published by: New Millennium Discoveries Ltd
Keywords: Islamic Social Finance; Mobile Sukuk; Qard; Social Development; Waqf;
Summary/Abstract: The use of sukuk in social development is an under-researched area, especially in the context of Sub-Saharan Africa. Although the Kenyan government has issued the world’s first mobile bond and the Indonesian government has used mobile platforms as a distribution channels for the issuances of retail sukuk, little is known about mobile sukuk and its potential from the perspective Islamic social finance. This paper aims to explore the opportunities and challenges of mobile sukuk for social development, namely perpetual waqf mobile sukuk, where the concept of waqf is combined with qard. It is anticipated that the proposed type of sukuk has the potential to be used as an Islamic social finance instrument.
Journal: International Journal of Management and Applied Research
- Issue Year: 8/2021
- Issue No: 2
- Page Range: 141-154
- Page Count: 14
- Language: English