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Vol 21 No 11 Nov/Dec 2016

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Sukuk


ISBN13: 9789675040412
Published: December 2009
Publisher: Sweet & Maxwell Asia Ltd
Country of Publication: Malaysia
Format: Hardback
Price: £170.00



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Sukuk are certificates of ownership of a pool of underlying assets, issued with the aim of using mobilized funds for developing new or existing projects, or financing business activities. They have played a significant role in firmly entrenching Islamic finance within the realm of Islamic capital markets.

With the rising popularity of sukuk worldwide, the challenge before the Islamic finance industry, particularly those involved in sukuk, is to develop and build financial solutions on a solid Shariah foundation, taking the best of what is correct from existing sources, developing a home-grown paradigm and rejecting what is inappropriate and prohibited.

Sukuk the first title in the Securities Commission Malaysia’s (SC) Islamic Capital Market Series – presents the insights of a panel of expert authors on various sukuk structures and contracts based on Shariah principles, such as ijarah, salam, istisna`, musharakah, mudharabah and wakalah. It aims to give readers a clear understanding and guidance on fiqh in the Islamic capital market (ICM), its practical workings from both the perspective of instruments and players, as well as to delve into opportunities available in the ICM.

This presentation is enhanced by frequent references to the requirements of the global regulatory framework driven by international bodies like the Accounting and Auditing Organization for Islamic Financial Institutions and the Islamic Financial Services Board, and the experts’ views on how sukuk have been fashioned for jurisdictions like Kuala Lumpur, Dubai, Bahrain, London and New York, comparing and contrasting the basic ground rules in these jurisdictions.

The reader will also benefit from the coverage given to the innovative varieties of sukuk that are penetrating markets never before imagined, including exotic forms attached with derivatives.

Subjects:
Banking and Finance, Islamic Law
Contents:
Introduction
The Emerging Islamic Capital Market
Sukuk and the Capital Markets
Ground Rules for Sukuk Issuance
Regulatory Issues: Innovations and Application in Sukuk
Legal Certainty for Sukuk
Basel II and Sukuk
Debt-Based Sukuk: Murabahah, Istisna` and Istithmar (Tawarruq) Sukuk
Ijarah Sukuk
Salam-Based Capital Market Instruments
Musharakah Sukuk: Structure, Legal Framework and Opportunities
Mudharabah Sukuk: Essential Islamic Contract, Applications and Way Forward
Wakalah Sukuk
Exotic Sukuk Features
Derivatives and Sukuk in the Islamic Capital Market
Nature of Risks Present in Sukuk Structures: Rating Agency Perspective
How Expansive are the Frontiers

Series: Islamic Capital Markets