Analisis Terhadap Aset Sandaran Alternatif bagi Penerbitan Sukuk Jangka Pendek oleh International Islamic Liquidity Management (IILM) (Analysis of alternative underlying asset in short term Sukuk Issuance by International Islamic Liquidity Management (IILM))
Document Type
Article
Publication Date
1-1-2018
Abstract
Underlying asset is vital in sukuk issuance. However, physical underlying asset may not be sufficient to issue sukuk regularly. This article intends to analyse the alternative underlying assets for short-term sukuk issuance. A case study on short-term sukuk was conducted at a multilateral company known as the International Islamic Liquidity Management (IILM). By using the interview method, this research found that the usage of wakalah contract in the issuance of sukuk is the best way to reduce the usage of physical assets. Other alternatives which may be used to overcome the lack of the underlying assets is perhaps a light asset consists of air time and electricity tarif, private assets or micro financing or loose High Quality Liquid Asset (HQLA) term and conditions.
Keywords
Islamic interbank money market, liquid instrument, short term sukuk IILM, underlying asset, International Islamic Liquidity Management (IILM)
Divisions
DeptofSyariahManagement
Publication Title
Jurnal Pengurusan
Volume
54
Publisher
Penerbit Universiti Kebangsaan Malaysia