Potencjał wykorzystania sukuk w zakresie zarządzania długiem Skarbu Państwa
The potential for using sukuk in the scope of managing state treasury debt

Summary/Abstract: Sukuk are instruments of Islamic finance which in recent years have been gaining prominence in the international financial market. A significant part of the sukuk market involves government issues. The success of sukuk offerings conducted in 2014 by the United Kingdom and Luxembourg prompted the study of possibilities for a Polish presence in that market. A Polish government sukuk issue was considered in the context of the possibilities for using these instruments in public debt management. The paper assumes the following research hypothesis: the use of sukuk has a beneficial effect on the implementation of the purpose of the State Treasury debt management strategy. The analysis of the literature on the subject, empirical data from the international financial market and information obtained from the Ministry of Finance have indicated meagre benefits and low cost attractiveness of a Polish government sukuk issue in relation to Eurobonds.

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