Sukuk Paradigm and Structure

Mohd Ma’Sum Billah
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Mohd Ma’Sum Billah: King Abdulaziz University

Chapter Chapter 23 in Islamic Financial Products, 2019, pp 299-325 from Springer

Abstract: Abstract In the process of Sukuk issuance the doctrine of Tawarruq (special purpose vehicle) is used to securitize the instrument in the primary market, while in the secondary market, bay’ al-Dain is used in order to legalize reselling of the bonds. Such process is mostly used in the Malaysian market, while most of the Middle-Eastern countries do not accept it. The proposed alternative is Islamic bonds based on Muqaradah (profit sharing).

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-17624-2_23

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DOI: 10.1007/978-3-030-17624-2_23

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