Sukuk in various jurisdictions : Shari'ah and legai issues
Author
Source
Journal of Islamic Business and Management
Issue
Vol. 2, Issue 1 (30 Jun. 2012), pp.15-34, 20 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2012-06-30
Country of Publication
Pakistan
No. of Pages
20
Main Subjects
Financial and Accounting Sciences
Law
Abstract EN
Sukük are active Islamic finance instruments offered in various jurisdictions and have experienced various events in the recent years.
Severai sukük defaults in 2009 highlighted a number of Shari'ah and legal issues that are necessary to be discussed.
As a part of the prerequisites to fulfil Shari'ah requirements, compliance to the relevant laws is also a necessity.
Among the issues that will be touched upon is ownership of the asset of the sukük which will include discussion about ‘al Qabd’ (taking possession).
Next, rights of the sukük holders will be discussed to see whether their interests are well protected and in this context the concept of asset backed will be differentiated from that of the asset based securities.
Discussion on the contentious purchase undertaking in sukük dealings will follow in order to highlight its status and cffect on the sukük and parties to the transactions.
Then, the practice of tranching in sukük issuance will be discussed followed by legal documentation of sukük issues.
In the end, the paper will present way forward for sukük, so that these issues are fijrther addressed for better sukük issuance.
American Psychological Association (APA)
Lal al-Din, Muhammad Akram. 2012. Sukuk in various jurisdictions : Shari'ah and legai issues. Journal of Islamic Business and Management،Vol. 2, no. 1, pp.15-34.
https://search.emarefa.net/detail/BIM-601793
Modern Language Association (MLA)
Lal al-Din, Muhammad Akram. Sukuk in various jurisdictions : Shari'ah and legai issues. Journal of Islamic Business and Management Vol. 2, no. 1 (Jun. 2012), pp.15-34.
https://search.emarefa.net/detail/BIM-601793
American Medical Association (AMA)
Lal al-Din, Muhammad Akram. Sukuk in various jurisdictions : Shari'ah and legai issues. Journal of Islamic Business and Management. 2012. Vol. 2, no. 1, pp.15-34.
https://search.emarefa.net/detail/BIM-601793
Data Type
Journal Articles
Language
English
Notes
Includes margin notes.
Record ID
BIM-601793