The Role of Sukuk in Meeting Global Development Challenges During Covid-19 Pandemic

Abstract

This study investigates the importance of sukuk structure and explains that how it effects the global development challenges during COVID pandemic times. Sukuk are financial instruments used for raising funds, and are also considered for resource mobilization, for public or private sector. This study will help to investigate the latest sukuk issuance trends and optimistic expectations relating to Sukuk issuance all over the world. The Sukuk market was significantly influenced by the COVID-19 pandemic. This research involves economics and macroeconomics variables, global financial crisis and COVID pandemic with strategic personages from Sukuk issuing entities in different economies of the world by the help of standardized mechanism. The objective of this research is to study the suitability of sukuk as long term Shariah – complaint financing instruments. It also gives an idea to evaluate, what are the ways in which sukuk financing would be taken forward. One perspective is to enlighten the study of how sukuk issuers are helpful in contributing to the funding of infrastructure and industrial projects by blowing their liquid funds. Sukuk are becoming important factor for financing instruments accompanying the bank loans and IPOs. This research will also throw light as long term outlook and the apparent future encounters facing the Sukuk market in all over the world.