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International Journal for Research Trends and Innovation
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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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| Paper Title: | Sukuk (Islamic Bond) And Infrastructure Financing In Sub-Saharan African Countries: A Systematic Literature Review of The Goals, Benefits, Challenges, And Risk Factors |
| Authors Name: | ADEKOYA, A. Augustine |
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| Author Reg. ID: |
IJRTI_189466
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| Published Paper Id: | IJRTI2404045 |
| Published In: | Volume 9 Issue 4, April-2024 |
| DOI: | https://doi.org/10.5281/zenodo.10967952 |
| Abstract: | Infrastructures Development (ID) plays critical role in nation’s development as a foundation for good governance, technological innovation, industrialization, and sustainable economic growth. However, Infrastructures Financing (IF) has become a wearisome task in Sub-Saharan African (SSA) countries due to paltry budgetary allocation. Therefore, this calls for alternative sources of finance for IF with sukuk (Islamic bonds). Presently, Sukuk for IF is insignificant in most SSA countries, this has become a matter of concern to governments, policy makers, investors, and researchers. Moreover, the study examined the goals, benefits, challenges, and risk factors of sukuk instrument for IF in SSA countries. Exploratory research design was adopted for the study. The study revealed that Sukuk has become the instrument of choice for ID in both Muslim and Non-Muslim countries after global economic recession and financial crisis. Sukuk will improve positive externalities, enhances nation’s external investment, increase tax revenue and economic growth, minimize urban congestion and unemployment. The study recommends that government should established relevant Islamic laws for sukuk capital market and a well-defined shariah governance framework to attract both local and foreign institutional investors. Similarly, personnel training and human capital development on Islamic finance should be considered. Also, sovereign sukuk should be issued at a price lower than that of conventional bonds for investors acceptance and attractiveness. Finally, public enlightenment on the benefits of sukuk should be intensified among non-Muslim faithful for acceptance and support. |
| Keywords: | Conventional bonds, economic growth, good governance, Infrastructure Financing, Islamic laws, Sukuk |
| Cite Article: | "Sukuk (Islamic Bond) And Infrastructure Financing In Sub-Saharan African Countries: A Systematic Literature Review of The Goals, Benefits, Challenges, And Risk Factors", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.9, Issue 4, page no.324 - 334, April-2024, Available :http://www.ijrti.org/papers/IJRTI2404045.pdf |
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| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
| Publication Details: |
Published Paper ID: IJRTI2404045
Registration ID:189466
Published In: Volume 9 Issue 4, April-2024
DOI (Digital Object Identifier): https://doi.org/10.5281/zenodo.10967952
Page No: 324 - 334 Country: -, -, Nigeria Research Area: Other Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2404045 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2404045 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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