Analysis of the Sukuk Market Development in the Countries of The World
Dr. Sirojiddin Z. Abrorov
Associate Professor, Tashkent State Economic University Tashkent, Uzbekistan
https://doi.org/10.47191/jefms/v4-i12-11ABSTRACT:
Islamic securities sukuk, introduced as a new instrument of the global financial system in the 21st century, have grown rapidly in recent years. Interest in it is growing, as it showed a growth trend even during the global financial and economic crisis and the COVID-19 pandemic. The article analyzes the development of sukuk in 2001-2020. Statistics from Malaysia and Turkey are analysed separately.
KEYWORDS:
Sukuk, securities, Islamic finance, issue, Uzbekistan, stock market.
REFERENCES:
1) Ibrahim, Y., & Minai, M. S. (2009). Islamic bonds and the wealth effects: evidence from Malaysia. Investment
Management and Financial Innovations, 6 (1), pp. 184-191.
2) Said A., & Grassa R. (2013). The determinants of sukuk market development: does macroeconomic factors influence the
construction of certain structure of sukuk? Journal of Applied Finance and Banking, 3 (5), pp. 251-267.
3) Alahouel F., Loukil N. Islamic stock-sukuk indexes' correlations: does financial uncertainty matter? // International
Journal of Emerging Markets. - 2021
4) BASYARIAH N., KUSUMA H., QIZAM I. Determinants of sukuk market development: macroeconomic stability and
institutional approach // The Journal of Asian Finance, Economics, and Business. - 2021. - T. 8. - No. 2. - S. 201-211.
5) V.V. Antropov Islamic finance in the global economy: current trends and prospects. The reasons for the emergence of
Islamic finance // Economic Journal. 2017. No. 48. p. 57-77
6) Gafurova G.T. Sukuk in the system of Islamic finance // Vestnik AGTU. Economy. 2011. No. 2. With. 90-94;
7) Mokina L.S. Islamic securities as a source of financing for investment projects and the prospects for their placement on
the Russian financial market // Russian Journal of Entrepreneurship. 2017. Volume 18. No. 22. With. 3429-3446;
8) Trofimova O. Muslims and Islam in Western Europe // World Economy and International Relations. 2009. No. 10. With.
52-62;
9) Zaripov I.A. Malaysia - the flagship of Islamic finance // Bulletin of the Financial University. 2016. No. 4. With. 118-129;
10) R.I.Bekkin. Islamic economic model and modernity. - 2nd ed., Rev. and add. - M .: Ed. house of Mardzhani, 2010 .-- 367
p.
11) Khasanov H. Alohiy (islomiy) moliyalashtirish tizimi - innovation moliyalashtirish vostiasi sifatida (Ўzbekiston va MDҲ
misolid). “ITISODIET VA INNOVATIVE TECHNOLOGYAR” ilmiy electronic journals. No. 5, 2017;
12) Khasanov Kh., Davlatiarov O. Foiz stavkasi va inflation darazhasi ertasidagi boғliқlikning islomiy moliyalashtirish jiҳatidan
taulili. Strategic planning is an important factor in the stability of sustainable socio-economic development of the
country and the regions: materials of the Forum of Economists / under the general editorship. T. Akhmedova.-Tashkent:
IFMR, 2019. cc. 245-252.
13) Sultanov M. Uzbekistonda investment fondlarini rivozhlantirish istiқbollari. Iқtisodiot fanlari bўyich falsafa doctor (PhD)
abstract. -T .: TDIU, 2019.58 p .;
14) Abrorov S., Koraboev N. KIMMATLI KOZLAR BOZORIDA SUKUKNING ROLLIGA OID ILMIY-NAZARIY MULOZAZALAR VA
UNING ЎZIGA KHOS ZHIҲATLARI // Iқtisodiet va ta'lim. - 2020. - No. 1. - S. 126-130.
15) Abrorov S. THE IMPORTANCE OF SUKUK IN THE DEVELOPMENT OF ECONOMY: AS AN EXAMPLE OF ITS IMPACT ON THE
INCOME OF THE MALAYSIAN POPULATION // Journal of Critical Reviews. - 2020. - T. 7. - No. 2. - S. 776-780.
16) Valiev B. B. et al. ZHANON BOZORIDA FOUNDATION SUKUKLARNING RIVOZHLANISH TENDENCIES // ITISODIETDA
innovation. - 2019. - No. eight.
17) Abrorov S., Imamnazarov J. ISLOM MOLIYASI: ЎZBEKISTON UCHUN YANGI IMKONIYATLAR // Itisodiet va ta'lim. - 2021. -
No. 4. - S. 146-159.
18) Islamic Finance Development Report 2020: Shifting Dynamics. The Islamic Corporation for the Development of the
Private Sector and Refinitiv. 72 p.
19) https://www.cia.gov/library/publications/resources/the-world-factbook/fields/401.html#SN
20) Sukuk report: A comprehensive study of the global sukuk market. International Islamic Financial Market, July 2021, 10th
edition. 219 p
21) Sukuk report: A comprehensive study of the global sukuk market. International Islamic Financial Market 2013-2020
malumotlari asosida Tadқiқot natijasid muallif tomonidan tuzilgan.
22) Securities Commission Malaysia Annual Report 2020.200 p
23) Toshmurodova B., Abrorov S. THE IMPORTANCE OF SUKUK IN THE DEVELOPMENT OF ECONOMY: AS AN EXAMPLE OF
ITS IMPACT ON THE INCOME OF THE MALAYSIAN POPULATION // International Finance and Accounting. - 2020. - T.
2020. - No. 3. - P. 19.
24) Abrorov S.Z.TENDENCIES OF DEVELOPMENT OF SUKUK EMISSIONS IN THE WORLD // Collection of materials of the large
international scientific and practical conference. - 2019. - S. 12-16.
25) Ashurzoda L. M. et al. Increasing the innovative component in the professional training of specialists in the production
sector // Management of personnel policy and modern requirements for personnel: Professional standards and
activities of personnel services. - 2019. - S. 49-60.