Economics, Econometrics and Finance
4 years ago

Islamic finance instruments prove unique, debunking notion of replication in markets.

Old wine in a shariah-compliant bottle?: an empirical comparison of SRI sukuk, social impact bonds, and conventional bonds
Syed Marwan Mujahid Syed Azman, Mohamed Aslam Haneef, Engku Rabiah Adawiah Engku Ali, Suhaiza Ismail

Paper Summary

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The article compares Islamic finance instruments like SRI sukuk with Social Impact Bonds and conventional bonds. The researchers looked at similarities and differences through a mix of reading existing studies and surveying stakeholders in Malaysia. They found that stakeholders see SRI sukuk, SIB, and conventional bonds as distinct from each other. This shows that Islamic finance instruments are not just copies of conventional tools. Additionally, stakeholders differentiate between SIBs and conventional bonds, showing that impact investing instruments are seen as separate categories. This research suggests that SRI sukuk and SIBs can offer unique options for investors looking to diversify their portfolios.