Nanaeva, Zhamal K2013-02-042013-02-042010-0580070http://bspace.buid.ac.ae/handle/1234/29Recent issues of Islamic bonds were “welcomed” with broad criticism, both by Islamic scholars and conventional investors. Presented paper attempts to analyze sukuk-associated risks and problems, and review their competitiveness in the capital market. In doing so, it compares sukuk with its conventional counterparts and conducts empirical analysis of the Value-at-Risk of both instruments in order to present potential sukuk investors with complete picture.ensukukbondsIslamic bondsDissertation