Innovation in the structuring of Islamic sukuk securities

Purpose - The purpose of this paper is to provide an analysis of different Design/methodology/approach - Flow charts are used to illustrate the financial transfers and the rights and obligations of Findings - The paper finds that special purpose vehicles are a prerequisite for the successful issuance and management of Research limitations/implications - The data analysis was restricted to two countries, but this could be extended. Alternative pricing benchmarks were suggested for sovereign Practical implications - Ministries of Finance and Central Banks of Muslim countries should review their debt financing policies and explore the potential of sovereign Originality/value - Little has been written previously on the use of