SUKUK SEBAGAI INSTRUMEN KEUANGAN ISLAM INOVATIF DINAMIS ANTARA HARAPAN DAN TANTANGAN

Abstract

It is true that sukuk is an innovative work on financial instruments in Islamic capital market because it is so flexible, hasmany alternative types, applicable in various forms of financing, andin accordance with the characters of investment in the contemporaryera of economic globalization. Although sukuk has been growing quite rapidly, but substantively, Sukuk are still searching for theideal face to be applied in the modern business mechanism, particularly in terms of suitability of Islamic economic law (shariah compliant), risk management, and provision of appropriate tools.And it is a mistake to force all the characters of the conventional bonds to sukuk as sukuk has its own characters with its ownprivileges as well