The Sukuk market, a cornerstone of Islamic finance, is undergoing a profound transformation. The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) has introduced a pivotal new framework, Sharia Standard 62 (SS62), aiming to significantly enhance Shariah compliance and reinforce the foundational principles of Sukuk as asset-backed instruments. This strategic evolution, however, has drawn considerable attention from major global rating agencies, including Fitch, Moody's, and S&P Global. Their concerns include potential market disruption, increased transactional costs, and a possible reduction in Sukuk issuance volume. This episode of Islamic Finance TV Features provides an in-depth analysis of this critical development. We examine whether the concerns raised by conventional rating agencies are warranted or stem from a divergence in understanding the intrinsic nature of Shariah-compliant financial instruments. Key areas explored in this analysis include: Understanding Sukuk: A precise definition of Sukuk, differentiating them from conventional bonds by emphasizing genuine asset ownership and profit-loss sharing. The Rationale for SS62: An exploration of the strategic reasons behind AAOIFI's new standard, focusing on its emphasis on effective asset transfer and risk alignment. Rating Agency Perspectives: A detailed presentation of the apprehensions articulated by global rating agencies. Shariah Expert Responses: Insights from leading Islamic finance scholars and practitioners who advocate for the principles underpinning SS62. AAOIFI's Position: Direct commentary from AAOIFI's Secretary General, Omar Mustafa Ansari, reaffirming the organization's commitment to core Shariah principles. Join us for a rigorous discussion on the challenges and opportunities presented by AAOIFI's Sharia Standard 62, and its implications for the trajectory of the global Sukuk market and the sustained integrity of Islamic finance.