Sukuk Issuance in the Emerging Markets-A Relative Evaluation
Mohamed Khudari1, Noriza Mohd Saad2
1Mohamed Khudari, College of Graduate Studies, University Tenaga Nasional, Jalan IKRAM-UNITEN, Kajang, Selangor, Malaysia.
2Noriza MohdSaad, College of Business Management & Accounting, University Tenaga Nasional, Pahang, Malaysia.
Manuscript received on September 06, 2019. | Revised Manuscript received on September 22, 2019. | Manuscript published on October 30, 2019. | PP: 3571-3574 | Volume-9 Issue-1, October 2019 | Retrieval Number: A2689109119/2019©BEIESP | DOI: 10.35940/ijeat.A2689.109119
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The Sukuk market in Malaysia runs parallel with the conventional bonds market and provides investors with investment options whereby the market trading is open to all. Indeed, Malaysia has proven itself as a center of choice for foreign corporations to issue Sukuk as well as to invest in these areas, as it offers one of the most diverse (in terms of types of securities, tenures, asset classes, structures, issuers and risk profiles), innovative and sophisticated array of investment choices in the global market. Thus, the objectives of this study are to investigate the significant mean different of amount Sukuk issue between Malaysia and across emerging market economies. The secondary data will be utilized to achieve the study objective for almost 10 countries that issue Sukuk from 2000 until 2015. The data then will be analyzed by using ANOVA or post Hoc test comparison as well as Levene’s test. The results prove that Malaysia is a leader in the Sukuk market in terms of largest Sukuk issuer and Sovereign Sukuk and there is a significant mean different between Sukuk issuance by Malaysia and other countries.
Keywords: Emerging markets, Levene’s test, Malaysia, Sovereign Sukuk.