An Overview of Islamic Capital Market (ICM) and Sukuk Industry

  • Ahcene LahsasnaEmail author
  • M. Kabir Hassan
  • Rubi Ahmad


This chapter provides an overview about the Islamic capital market (ICM), which is regarded as a vibrant market segment in Islamic finance. The ICM is a marketplace that is free from non-Shariah compliant activities. There are many important activities and instruments offered in the ICM such as Sukuk, shares, RETS, ETF, and others. The ICM plays an important role in the development of finance and the economy as it opens up opportunities for investment and fund raising. This chapter offers a general introduction to the ICM and covers some of its very important aspects. It provides a general overview of the Sukuk market in Islamic finance, examines the growth of the Sukuk industry and its challenges in the current global financial market, presents an analysis of Sukuk in the ICM, and discusses key milestones in the Sukuk Market.


Islamic capital market Sukuk market Financial market Primary market Secondary market shariah compliance 


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Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.Salihin Shariah AdvisoryKuala LumpurMalaysia
  2. 2.Department of Economics and FinanceUniversity of New OrleansNew OrleansUSA
  3. 3.Department of Finance and Banking, Faculty of Business and AccountancyUniversity of MalayaKuala LumpurMalaysia

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