International Journal of Multidisciplinary Research and Development

International Journal of Multidisciplinary Research and Development


International Journal of Multidisciplinary Research and Development
International Journal of Multidisciplinary Research and Development
Vol. 6, Issue 6 (2019)

A study on the feasiblity of Sukuk in Afghanistan


Ehsanullah Mohammadi, Shoaib Alam Siddiqui, Saifullah Mohammadi

Since the advent of Islamic finance, Islamic Capital Market has attained worldwide attention in financing the needs of the public and private sectors. The Shaira compliant bond (Suku) has become one of the most dynamic tools for capital mobilization in both the Islamic and Conventional capital markets. This is the certificate representing a proportional and undivided ownership right in tangible asset. It is an interest free financial instrument. As it is not yet launched in Afghanistan. It’s going to be introduced soon. So, the purpose of this paper is to gauge the interest of the people in the Sukuk and determine whether people really look for Sukuk as an alternative to Conventional bonds. For this, a feasibility study has been conducted with the sample size of 100 people from Afghanistan. Data from the target audience (investors, bank employees and those having regular income) were collected through a structured questionnaire. According to my survey, it’s found that almost all the people are interested in sukuk. The reasons why people are interested in it are: it is based on profit and loss sharing and it brings justice and fairness by avoiding interest.
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