Islamic Capital Markets: Prospects of the Sukuk Issuance in the Post-Soviet Countries

The sukuk market is a large and fast-growing segment of Islamic capital markets. But the challenges that post-Soviet countries, authorities firms face in adoption strategies are mainly due to scarce awareness finance principles practices, some suspicion instruments does not yet seem well-known accepted on global financial In this regard, current study attempts describe history state based evidence obtained from secondary sources. Data were gathered using qualitative method systematic literature review technique. main empirical corpus was formed Financial Services Board International Market reports 2010 2022. initial then significantly expanded by means content analysis open media source. Thus synthesizes existing published past decade. This illustrates: (i) starting 1990s evolution instrument corporate funding sovereign financing; (ii) dynamics structure market, purposes currencies issuances; (iii) regional distribution key markets for (iv) statistics defaults, pricing policy yields sukuk; (v) demand investors’ types regions. conclusion, offers new insights into prospects application as an alternative financing CIS countries.