This book fulfills the needs of students of higher learning institutions, academics, practitioners and other stakeholders. This book is a joint publication between ISRA and Security Commission, Malaysia. This book discusses both theoretical and practical aspects of the sukuk market. From basic concepts, it takes the reader to a deeper level of undertsanding of their context and application by discussing key topics such as: * Growth and development of the sukuk market * Shari'ah and general frameworks for sukuk issuance * Types of sukuk based on Shar'iah contracts * Types of sukuk based on commercial and technical features * Sukuk rating * Sukuk default and restructuring * Future directions, prospecfts and challenges of the sukuk market Among the key features of this book are: * It elucidates the principles and practices of the sukuk with an academic rigour * It sheds light the cutting-edge practical issues faced by the industry * Every chapter contains relevant case studies and supportive illustrations * Multiple choice questions (MCQs), discussion questions and case study questions are privided at the end of each chapter. This book is presented in an easily accessible and illustrative format, providing details through in-depth explanations, exhibits, boxes, figures and tables. Each chapter concludes with a summary and provides a list of review questions and studies to challenge the understanding of the reader.