iv

4.7.4 KEY FACTORS UNDERPINNING NIGERIA’S SUKUK MARKET 178 4.7.5 COUNTRY-SPECIFIC RECOMMENDATIONS 180 5. POLICY RECOMMENDATIONS ON SUKUK MARKET DEVELOPMENT 182 5.1 STRATEGIC FRAMEWORK AND ROAD MAP TO DEVELOP SUKUK MARKETS 182 5.2 GENERAL RECOMMENDATIONS IN DEVELOPING A VIBRANT SUKUK MARKET 185 6. CONCLUSION 190 6.1 SUKUK STRUCTURES 190 6.2 SUKUK ISSUANCES (SUPPLY – SELL SIDE) 192 6.3 SUKUK INVESTMENTS (DEMAND – BUY SIDE) 193 REFERENCES 195 APPENDIX 1: ACKNOWLEDGEMENT 204 APPENDIX 2: SURVEY RESULTS 206