Sukuk Industry; Challenges, Issues and Prospects for better Future(With reference to the challenges of Sukuk industry in Algeria)

This study aims to investigate the most important challenges and issues that face the Sukuk industry in the world, after it has become an important financial tool for financing in several environments, whether Islamic or Western, and these challenges and issues related to Sukuks require solutions in order not to turn with time, into a copy of the traditional bonds.The main finding of the study revealed that the problem of asset ownership and its consequences are the most important challenges, and the gradual tendency of Sukuk to shift towards fixed debt instruments is the most important issue.Moreover, the researcher presents some proposals for a better future for the Sukuk industry with high performance for these instruments.Concerning Algeria, the current legal texts and regulations are the most important challenge to the establishment of a real Sukuk industry, and this requires its adjustment, in addition to the absence of a law for Sukuk, unlike what exists in other Arab and Islamic countries, accordingly the Algerian legislator have to adjust the current laws and put new ones aligned with the Sukuk nature.