Innovations in Sukuk and their application, as the latest capital market instruments added to the policy dynamics of Islamic Economics and Finance, are of the origins dated back to Middle Age and reemerged and reintroduced in Nineties of the Twentieth Century. The last quarter of Twentieth and the first quarter of Twenty First Century have witnessed dreadful evidences of FC crash, Dot.com crisis and the longest ever recession of 2007-09 financial crisis ended with trillions of dollars of global GDP loss, massive bank failures and costly bailouts of the collapsed financial institutions from public exchequers being the global feature. Emergence of Islamic banking and financial institutions was thought to be a way out of the repeated collapse of interest-based conventional financial system. Development of sukuk provided an added ray of hope in coming out from theoretical and practical ramifications of conventional interest-based financial system. Readings in Sukuk: Concept and Operation attempts to present a structured thought and practices of the Islamic capital market instruments with a view to check their validities in terms of risk, rules, regulations and governance from the viewpoint of Shariah and its maqāṣid. Need for developing a reading series on Sukuk is justified with the same reasoning of developing other readings materials on Islamic economics and finance. However, compared to the body knowledge developed on Islamic economics and banking during more than half a century starting from 1950s, conceptualization and operation of sukuk was rapid raising debates on their Sharīah validity in some of the cases. The current readings series on Sukuk tries to address adequately as much as possible. Previous series including this one are prepared following stylish standard syllabuses fit to the requirements of appropriate university level curricula particularly meant for undergraduate and graduate studies. The current series is comprised of sixteen chapters divided into six parts. Contents placed under each part and chapter vividly reflect depth and breadth, and structure of the reading series. Readings in Sukuk: Concept and Operation, like other ones in the series, is a compilation of judiciously selected professional articles published in journals of international repute. While selecting the articles for a chapter from among host of similar articles, due attentions have been paid to authority of the author as well as standard and reputation of the journals in which these are published. An overview on the structure of the book below may provide instant sense of what the book is all about. The book is consisted of six parts: Part I: Sukuk: An Overview; Part II: Framework of Sukuk Issuance; Part III: Structuring Sukuk by Shariah Contracts; Part IV: Sukuk Structuring Based on Commercial and Technical Features; Part V: Sukuk for Government and Corporate Financing, and Part VI: Sukuk: Market Risk, Default and The Way Forward.