طبيعة الملكية في هيكلة الصكوك الإسلامية

Abstract EN

This study aims at identifying the nature of Islamic suknk, whether it is an original Islamic product or simulating traditional financial product.

In addition to identifying the main characteristics of Islamic sukuk that relate to ownership and guarantee matters.

Hence, the distinction between ownership types in Islamic jurisprudence i.e.

complete ownership, incomplete ownership, legal and beneficial ownership, and studying the effect of this differentiation on the structure of Islamic sukuk and its holder.

One of the main findings of this study is that the ownership of the sukuk holder in most issuances is a beneficial ownership, in which the periodic return may be variable or fixed according to the type of sukuk.

On the other side, one of the most important suggestions is to review the structures of the issued sukuk thr ough shari'ah boards that are independent from the issuer of sukuk.