Self-paced online course
Sukuk: A Complete Course on Structuring and Documentation
We are dedicated to making the world of Islamic finance and capital markets clear, accessible, and practical for learners, professionals, and investors. Our platform brings together carefully designed lessons that cover everything from the fundamentals of capital markets and bonds to the specialized structures of Sukuk and their role in today’s global economy.
Course content
Introduction
What Are Sukuk? A Deep Dive into Islamic FInance
Introduction to Sukuk Learn what Sukuk (Islamic bonds) are, why they matter in global finance, and how they differ from conventional bonds. This lesson gives you the foundation to understand Islamic finance step by step.
What Is a Capital Market?
Understand the basics of capital markets and how they differ from banks. A key foundation in finance and investing.
What is an Islamic Capital Market and Its Role
Explore how Islamic Capital Markets (ICM) work. Learn the key differences from conventional markets, the role of Shariah screening, and how capital markets support businesses and investors worldwide.
How Bonds Work? Global Bonds Market Outlook
Learn the fundamentals of bonds—Then explore the $100 trillion global bond market, including sovereign, corporate, and sustainable bonds economy.
History of Bonds
From ancient Mesopotamia to modern Wall Street. In this lesson, discover the history of bonds, their evolution across civilizations.
What Are Sukuk? History of Sukuk | Difference Between Bonds and Sukuk
Explore the origins and history of Sukuk, and understand how they differ from conventional bonds.
Sukuk Assets | Criteria of Sukuk Assets
Discover the types of assets. learn how Sukuk assets are valued and structured for investment.
Sukuk Valuation | Tradability of Sukuk
Learn how Sukuk are valued and what makes them tradable in Islamic finance. Discover the difference between tradable and non-tradable Sukuk.
Global Sukuk Market Outlook
Dive into the latest trends and forecasts in the global Sukuk market. Explore key issuers, market dynamics, and the rise of sustainable Sukuk. Get insights into regional growth, digitalisation, and future opportunities in Islamic finance.
An Introduction to the US and UK Capital Markets
Explore two of the world’s most advanced debt capital markets—the United States and the United Kingdom. Learn about key regulations, major bond types, and how each market supports global finance.
Sukuk Distribution | Regulation S vs. Rule 144A
Sukuk are issued globally. Learn the difference between Reg S Sukuk and 144A Sukuk.
The Dana Gas Sukuk Default Case
The 2017 Dana Gas Sukuk default shook the Islamic finance world. Discover how a $850 million Sukuk issuance led to legal battles across the UK and UAE. What lessons were learned for future Sukuk structures. We’ll cover: ✔️ Structure of the Sukuk ✔️ Key risks & reasons for default ✔️ English & Sharjah court rulings ✔️ Lessons for Islamic finance
Sukuk Al-Mudaraba | A Deep Dive into the Structure
In this lesson, we take a deep dive into the Sukuk Al-Mudaraba structure — one of the most widely used Sukuk models in Islamic finance. By the end, you’ll clearly understand how Sukuk Al-Mudaraba align with Islamic finance principles while providing investors with profit-sharing opportunities.
Sukuk Al-Musharaka | A Deep Dive into the Partnership Structure
In this lesson, we explore the Sukuk Al-Musharaka structure — a partnership-based Sukuk model rooted in Islamic finance principles. By the end, you’ll understand how Sukuk Al-Musharaka enable joint ventures, equitable risk-sharing, and Shariah-compliant investment opportunities.
Sukuk Al-Murabaha | A Deep Dive into The ‘Cost-Plus’ Sukuk
In this lesson, we take a deep dive into Sukuk Al-Murabaha, one of the most widely used structures in Islamic finance. By the end of this session, you’ll understand why Sukuk Al-Murabaha remain popular despite their non-tradable nature in most secondary markets.
Sukuk Al-Ijarah | A Deep Dive into the Lease Structure
In this lesson, we explore Sukuk Al-Ijarah, one of the most popular and tradable Sukuk structures in Islamic finance. By the end of this session, you’ll understand why Sukuk Al-Ijarah form the backbone of the global Sukuk market and how they balance Shariah compliance with investor returns.
Sukuk Al-Wakala | A Deep Dive into the Agency Structure
In this lesson, we explore Sukuk Al-Wakala, a structure based on the concept of agency (Wakala) in Islamic finance. By the end of this session, you’ll understand how Sukuk Al-Wakala balance agency principles, Shariah compliance, and investor expectations.
Recent Common Sukuk Structures | PIF and Egypt Sovereign Sukuk
Learn about the latest Sukuk structures in the market. Discover how the Saudi PIF Sukuk and Egypt’s Sovereign Sukuk are structured, the underlying assets, mechanisms, and key features that make them Shariah-compliant and attractive to investors.
Introduction to Waqf-Linked Sukuk
Learn how Waqf and Sukuk come together to promote socio-economic development. Discover the principles of Waqf, innovative Sukuk structures like Sukuk Al-Intifa, Cash Waqf Linked Sukuk in Indonesia, Musharaka Sukuk in Singapore, and SRI Musharaka Sukuk in Malaysia, and how these instruments help finance Waqf assets while generating sustainable returns.
Types of Sukuk and Capital Market Offerings
Explore the various types of Sukuk and how they are offered in the capital markets. Learn about Sovereign vs. Corporate Sukuk, asset-based vs. debt-based Sukuk, investment vs. non-investment Sukuk, and Tier 1 & Tier 2 classifications. Understand the differences between Exempt Offerings, Private Placements, and Public Offerings, and how each impacts investors and issuers.
Categories of Sukuk
Dive into the different categories of Sukuk and understand their unique features and investor rights. Learn about Sustainable Sukuk, Sustainability-Linked Sukuk, and how repayment hierarchy works in cases of default or bankruptcy.
The Role of Participants in a Sukuk Transaction
Understand the key roles and responsibilities of all parties involved in a Sukuk issuance. Learn about the Obligor, Lead Arranger, Shariah Scholar, Legal Counsel, Auditor, Issuer, Delegate, Rating Agency, Listing Agent, Registrar, Calculation Agent, Transfer Agent, and Principal Paying Agent, and how they ensure the Sukuk is structured, executed, and managed in compliance with Shariah and commercial requirements.
Process of Issuing a Sukuk
Learn the step-by-step process of issuing Sukuk, from structuring and appointing arrangers and trustees to marketing, pricing, bookbuilding, signing, and closing. Understand how Shariah compliance, regulatory requirements, and market practices come together to ensure a successful Sukuk issuance that benefits both issuers and investors.
Shariah Governance: The Role of Governing Bodies
Explore the pivotal role of Shariah standard-setting bodies in shaping the Islamic finance industry. Learn how AAOIFI and IFSB provide guidance, standards, and frameworks for Sukuk issuance, capital markets, and Shariah compliance. This lesson also examines AAOIFI Standard 62 and its impact on ownership, risk transfer, and Sukuk structuring, highlighting the evolving governance landscape in Islamic finance.