Sukuk

Sukuk
An Islamic financial certificate, similar to a bond in Western finance, that complies with Sharia, Islamic religious law. Because the traditional Western interest paying bond structure is not permissible, the issuer of a sukuk sells an investor group the certificate, who then rents it back to the issuer for a predetermined rental fee. The issuer also makes a contractual promise to buy back the bonds at a future date at par value.

Sukuks must be able to link the returns and cash flows of the financing to the assets purchased, or the returns generated from an asset purchased. This is because trading in debt is prohibited under Sharia. As such, financing must only be raised for identifiable assets.


Investment dictionary. . 2012.

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  • Sukuk — (Arabic: صكوك, plural of صك Sakk, legal instrument, deed, check ) is the Arabic name for a financial certificate but can be seen as an Islamic equivalent of bond. However, fixed income, interest bearing bonds are not permissible in Islam, hence… …   Wikipedia

  • Sukuk — (‏صكوك‎, DMG Ṣukūk, Plural von ‏صك‎ / Ṣakk) sind islamische Anleihen, bei denen keine Zinsen auf das angelegte Kapital gezahlt werden. Sukuk ist ein Instrument des Islamischen Bankwesens. Inhaltsverzeichnis 1 …   Deutsch Wikipedia

  • sukuk — are financial instruments, such as certificates, that have economic similarities to bonds but are structured so as to comply with Sharia. Corporate sukuk are sukuk issued by a body corporate, rather than a sovereign issuer. The singular of sukuk… …   Law dictionary

  • Sukuk — Les sukuk (en arabe صكوك, pluriel de صك sukk) sont des certificats d investissements conformes à la recommandation religieuse issue du Coran interdisant aux fidèles directement le prêt à intérêt (riba). Il consiste pour la banque à acheter un… …   Wikipédia en Français

  • SÜKUK — (Bak: Sukuk …   Yeni Lügat Türkçe Sözlük

  • sukuk al musharaka — International sukuk al musharaka, Also known as musharaka sukuk. Islamic finance instruments (sukuk) based on an underlying Sharia compliant partnership or joint venture providing finance for a specified project (musharaka). Certificates are… …   Law dictionary

  • sukuk al-musharaka — International sukuk al musharaka, Also known as musharaka sukuk. Islamic finance instruments (sukuk) based on an underlying Sharia compliant partnership or joint venture providing finance for a specified project (musharaka). Certificates are… …   Law dictionary

  • sukuk al wakala — International, United Kingdom sukuk al wakala, Also known as wakala sukuk. Islamic financial instruments (sukuk) based on an underlying wakala structure. Financial instruments are issued by a special purpose vehicle that entitle the holders to a …   Law dictionary

  • sukuk al-wakala — International, United Kingdom sukuk al wakala, Also known as wakala sukuk. Islamic financial instruments (sukuk) based on an underlying wakala structure. Financial instruments are issued by a …   Law dictionary

  • sukuk al ijara — International sukuk al ijara, Also known as ijara sukuk, are sukuk based on an underlying ijara structure. Certificates are issued by a special purpose vehicle that entitle the holders to an ownership interest and a right to a return in… …   Law dictionary

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