Richardson, Edana (2019) Responsible finance sukuk—can they bring societal value to a value-neutral market? Capital Markets Law Journal, 14 (3). pp. 394-428. ISSN 1750-7219
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Abstract
Conventional responsible finance provides investors with an opportunity to combine financial returns
with broader societal impact in their investment activity. This emphasis on financial and extrafinancial
considerations has led to suggestions that there are innate similarities between responsible
finance and Islamic finance (as financial activity guided by religious principles).
It has not been until recently, however, that the sukuk market has sought to establish its place within
the wider responsible finance market. This has led to debut issuances of green, social and sustainability
sukuk and the piecemeal development of precedents for future issuances.
This article explores legal aspects of the nascent responsible finance sukuk market. In doing so, it
provides an in-depth discussion of the legal structure of responsible finance sukuk issuances and
reflects on claims that Islamic finance and responsible finance are naturally compatible.
Item Type: | Article |
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Keywords: | Responsible finance; sukuk; societal value; value-neutral market; |
Academic Unit: | Faculty of Social Sciences > Law |
Item ID: | 11729 |
Identification Number: | 10.1093/cmlj/kmz011 |
Depositing User: | Edana Richardson |
Date Deposited: | 18 Nov 2019 12:15 |
Journal or Publication Title: | Capital Markets Law Journal |
Publisher: | Oxford University Press |
Refereed: | Yes |
Related URLs: | |
URI: | https://mu.eprints-hosting.org/id/eprint/11729 |
Use Licence: | This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here |
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