Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity

The purpose of this paper is to highlight the potential of Social Impact Bond (SIB) and Socially Responsible Investment (SRI) sukuk as financial models that can be used to help alleviate the social problem of poverty and also potentially provide economic security for the society. From the review of...

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Main Authors:	Syed Azman, Syed Marwan Mujahid, Engku Ali, Engku Rabiah Adawiah
Format:	Article
Language:	English English
Published:	IIUM Press 2016
Subjects:	HG Finance HG4001 Financial management. Business finance. Corporation finance.
Online Access:	http://irep.iium.edu.my/55193/ http://irep.iium.edu.my/55193/ http://irep.iium.edu.my/55193/1/55193_Potential%20Role%20of%20Social%20Impact.pdf http://irep.iium.edu.my/55193/2/55193_Potential%20Role%20of%20Social%20Impact_SCOPUS.pdf

id	iium-55193
recordtype	eprints
spelling	iium-551932019-02-25T01:35:39Z http://irep.iium.edu.my/55193/ Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity Syed Azman, Syed Marwan Mujahid Engku Ali, Engku Rabiah Adawiah HG Finance HG4001 Financial management. Business finance. Corporation finance. The purpose of this paper is to highlight the potential of Social Impact Bond (SIB) and Socially Responsible Investment (SRI) sukuk as financial models that can be used to help alleviate the social problem of poverty and also potentially provide economic security for the society. From the review of literature, this paper takes case studies of SIB programmes and SRI sukuk, and relates them as programmes that can be used to address the issue of poverty and economic insecurity. The paper finds that there is a growing global interest in innovative financial tools such as SIB and SRI sukuk. Furthermore, the paper explicates that SIB and SRI sukuk models embody the spirit of social responsibility, which is one of the major essence that is currently missing in the Islamic finance industry practice. This paper is conceptual and exploratory in nature. Therefore, further empirical research can be done to provide better understanding and knowledge. Findings from this paper can be used as a reference to understand the concepts and mechanisms involved in SIB and SRI sukuk models. This paper contributes to the awareness of the emerging global interest in SIB and SRI. In addition, it highlights SIB and SRI sukuks' potential contribution towards Islamic finance. Although SIB and SRI sukuk is gaining interest worldwide, it has not caught much attention of researchers and practitioners involved with Islamic finance. Therefore, this paper offers insight towards SIB and SRI sukuk, which is relatively unknown to academics and Islamic finance industry practitioners. IIUM Press 2016 Article PeerReviewed application/pdf en http://irep.iium.edu.my/55193/1/55193_Potential%20Role%20of%20Social%20Impact.pdf application/pdf en http://irep.iium.edu.my/55193/2/55193_Potential%20Role%20of%20Social%20Impact_SCOPUS.pdf Syed Azman, Syed Marwan Mujahid and Engku Ali, Engku Rabiah Adawiah (2016) Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity. Intellectual Discourse, 24. pp. 343-364. ISSN 0128-4878 http://journals.iium.edu.my/intdiscourse/index.php/islam
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HG Finance HG4001 Financial management. Business finance. Corporation finance.
spellingShingle	HG Finance HG4001 Financial management. Business finance. Corporation finance. Syed Azman, Syed Marwan Mujahid Engku Ali, Engku Rabiah Adawiah Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
description	The purpose of this paper is to highlight the potential of Social Impact Bond (SIB) and Socially Responsible Investment (SRI) sukuk as financial models that can be used to help alleviate the social problem of poverty and also potentially provide economic security for the society. From the review of literature, this paper takes case studies of SIB programmes and SRI sukuk, and relates them as programmes that can be used to address the issue of poverty and economic insecurity. The paper finds that there is a growing global interest in innovative financial tools such as SIB and SRI sukuk. Furthermore, the paper explicates that SIB and SRI sukuk models embody the spirit of social responsibility, which is one of the major essence that is currently missing in the Islamic finance industry practice. This paper is conceptual and exploratory in nature. Therefore, further empirical research can be done to provide better understanding and knowledge. Findings from this paper can be used as a reference to understand the concepts and mechanisms involved in SIB and SRI sukuk models. This paper contributes to the awareness of the emerging global interest in SIB and SRI. In addition, it highlights SIB and SRI sukuks' potential contribution towards Islamic finance. Although SIB and SRI sukuk is gaining interest worldwide, it has not caught much attention of researchers and practitioners involved with Islamic finance. Therefore, this paper offers insight towards SIB and SRI sukuk, which is relatively unknown to academics and Islamic finance industry practitioners.
format	Article
author	Syed Azman, Syed Marwan Mujahid Engku Ali, Engku Rabiah Adawiah
author_facet	Syed Azman, Syed Marwan Mujahid Engku Ali, Engku Rabiah Adawiah
author_sort	Syed Azman, Syed Marwan Mujahid
title	Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_short	Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_full	Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_fullStr	Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_full_unstemmed	Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
title_sort	potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity
publisher	IIUM Press
publishDate	2016
url	http://irep.iium.edu.my/55193/ http://irep.iium.edu.my/55193/ http://irep.iium.edu.my/55193/1/55193_Potential%20Role%20of%20Social%20Impact.pdf http://irep.iium.edu.my/55193/2/55193_Potential%20Role%20of%20Social%20Impact_SCOPUS.pdf
first_indexed	2023-09-18T21:18:02Z
last_indexed	2023-09-18T21:18:02Z
_version_	1777411694070333440

Potential role of social impact bond and socially responsible investment sukuk as financial tools that can help address issues of poverty and socio-economic insecurity

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