Staff View: A comparative analysis of machine learning approaches in sukuk price estimation across global regions

A comparative analysis of machine learning approaches in sukuk price estimation across global regions

Sukuk, also known as Islamic bonds, constitute a significant aspect of Islamic finance, offering Shariah-compliant investment opportunities. Motivated by the increasing prominence of Sukuk in global financial markets and their potential for economic development, this study aims to investigate the...

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Main Authors:	Islam, Gazi Taufiq, Malakar, Surajit, Hassan, Khondekar Lutful, Dey, Rajesh, Mahajan, Rupali A, Kassim, Salina
Format:	Article
Language:	English
Published:	Social Science Research Network (SSRN) 2024
Subjects:	HG Finance HG3368 Islamic Banking and Finance
Online Access:	http://irep.iium.edu.my/116838/1/2024%20SSRN%20Islam%20A%20Comparative.pdf http://irep.iium.edu.my/116838/ https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4945306
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spelling	my.iium.irep.1168382024-12-23T01:51:36Z http://irep.iium.edu.my/116838/ A comparative analysis of machine learning approaches in sukuk price estimation across global regions Islam, Gazi Taufiq Malakar, Surajit Hassan, Khondekar Lutful Dey, Rajesh Mahajan, Rupali A Kassim, Salina HG Finance HG3368 Islamic Banking and Finance Sukuk, also known as Islamic bonds, constitute a significant aspect of Islamic finance, offering Shariah-compliant investment opportunities. Motivated by the increasing prominence of Sukuk in global financial markets and their potential for economic development, this study aims to investigate the effectiveness of machine learning neural networks in Sukuk price estimation. The objective is to evaluate the accuracy and efficiency of various machine learning techniques across diverse global regions with significant interest in Sukuk investment, as determined by the size of the Muslim population. The methodology for literature selection involves a systematic search of academic databases and scholarly repositories, focusing on recent publications within the last five years. Search terms include keywords related to Sukuk and machine learning. Selected papers are screened based on titles and abstracts to ensure relevance to the research topic, prioritizing those that explicitly discuss both Sukuk and machine learning. In addition, articles are evaluated for outcome-based research, particularly those that offer conclusions about the precision and effectiveness of Sukuk pricing or machine learning-based forecasting. The findings suggest that artificial neural networks perform better than traditional statistical methods in Sukuk price estimation. However, restrictions including short dataset sizes, the omission of Sukuk backed by assets, and overly basic rating categories indicate areas that warrant additional investigation. Future studies could explore comparative analyses of different machine learning algorithms, refine models for dynamic market conditions, and incorporate real-time data integration to enhance Sukuk price forecasting accuracy. Considering these drawbacks, the results highlight how machine learning might enhance the effectiveness and precision of Sukuk pricing. Social Science Research Network (SSRN) 2024-08-26 Article PeerReviewed application/pdf en http://irep.iium.edu.my/116838/1/2024%20SSRN%20Islam%20A%20Comparative.pdf Islam, Gazi Taufiq and Malakar, Surajit and Hassan, Khondekar Lutful and Dey, Rajesh and Mahajan, Rupali A and Kassim, Salina (2024) A comparative analysis of machine learning approaches in sukuk price estimation across global regions. Social Science Research Network (SSRN). pp. 1-10. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4945306 10.2139/ssrn.4945306
institution	Universiti Islam Antarabangsa Malaysia
building	IIUM Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	International Islamic University Malaysia
content_source	IIUM Repository (IREP)
url_provider	http://irep.iium.edu.my/
language	English
topic	HG Finance HG3368 Islamic Banking and Finance
spellingShingle	HG Finance HG3368 Islamic Banking and Finance Islam, Gazi Taufiq Malakar, Surajit Hassan, Khondekar Lutful Dey, Rajesh Mahajan, Rupali A Kassim, Salina A comparative analysis of machine learning approaches in sukuk price estimation across global regions
description	Sukuk, also known as Islamic bonds, constitute a significant aspect of Islamic finance, offering Shariah-compliant investment opportunities. Motivated by the increasing prominence of Sukuk in global financial markets and their potential for economic development, this study aims to investigate the effectiveness of machine learning neural networks in Sukuk price estimation. The objective is to evaluate the accuracy and efficiency of various machine learning techniques across diverse global regions with significant interest in Sukuk investment, as determined by the size of the Muslim population. The methodology for literature selection involves a systematic search of academic databases and scholarly repositories, focusing on recent publications within the last five years. Search terms include keywords related to Sukuk and machine learning. Selected papers are screened based on titles and abstracts to ensure relevance to the research topic, prioritizing those that explicitly discuss both Sukuk and machine learning. In addition, articles are evaluated for outcome-based research, particularly those that offer conclusions about the precision and effectiveness of Sukuk pricing or machine learning-based forecasting. The findings suggest that artificial neural networks perform better than traditional statistical methods in Sukuk price estimation. However, restrictions including short dataset sizes, the omission of Sukuk backed by assets, and overly basic rating categories indicate areas that warrant additional investigation. Future studies could explore comparative analyses of different machine learning algorithms, refine models for dynamic market conditions, and incorporate real-time data integration to enhance Sukuk price forecasting accuracy. Considering these drawbacks, the results highlight how machine learning might enhance the effectiveness and precision of Sukuk pricing.
format	Article
author	Islam, Gazi Taufiq Malakar, Surajit Hassan, Khondekar Lutful Dey, Rajesh Mahajan, Rupali A Kassim, Salina
author_facet	Islam, Gazi Taufiq Malakar, Surajit Hassan, Khondekar Lutful Dey, Rajesh Mahajan, Rupali A Kassim, Salina
author_sort	Islam, Gazi Taufiq
title	A comparative analysis of machine learning approaches in sukuk price estimation across global regions
title_short	A comparative analysis of machine learning approaches in sukuk price estimation across global regions
title_full	A comparative analysis of machine learning approaches in sukuk price estimation across global regions
title_fullStr	A comparative analysis of machine learning approaches in sukuk price estimation across global regions
title_full_unstemmed	A comparative analysis of machine learning approaches in sukuk price estimation across global regions
title_sort	comparative analysis of machine learning approaches in sukuk price estimation across global regions
publisher	Social Science Research Network (SSRN)
publishDate	2024
url	http://irep.iium.edu.my/116838/1/2024%20SSRN%20Islam%20A%20Comparative.pdf http://irep.iium.edu.my/116838/ https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4945306
_version_	1819909403560640512
score	13.223943

A comparative analysis of machine learning approaches in sukuk price estimation across global regions

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