The Nexus of Green Sukuk and the Cryptocurrency and Commodity Markets

The study employs the wavelet coherence and the spillover index methodologies to investigate time-varying relationship between green sukuk and selected assets from the crypto-currency and commodity markets between October 2019, and March 2022. The results of wavelet coherence indicated weak correlations between green sukuk and Bitcoin, Binance-coin, gold and silver whereas green sukuk exhibited moderate correlations with each of the Ethereum and palladium at low frequency on the outbreak of covid-19. The spillover index’s results revealed the impact of covid-19 on the intensity of markets’ connectedness prompting temporal transmission of risks between markets.