Searching for Sukuk Valuation Model: A Systematic Literature Reviewis Sample Abstract
Sulistya Rusgianto- Kamola Bayram- Nursilah Ahmad

Department of Islamic Economics, Universitas Airlangga, Indonesia
Department of Islamic Economics and Finance, KTO Karatay Universitesi, Turkiye
Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia, Malaysia

Abstract

Sukuk should be valued differently from the conventional bond due to it has different structures and characteristics. Therefore, the study is searching for an appropriate sukuk valuation model that applicable in the current market condition. The study employs systematic literature review to evaluate the existing valution model of bond and sukuk. The results indicate that the proposed sukuk valuation models have limitations when come into practice due to unavailability of market data. The study suggest that the yield curve approach is the most appropriate approach to be used for sukuk valuation model. This approach can be applied using the benchmark yield curve provided by the rating agency. Further research is suggested to empirically investigate application of this approach.

Keywords: Sukuk- Sukuk yield- Sukuk valuation- Islamic capital market-

Topic: Islamic capital market