ijara sukuk

ijara sukuk
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 proportion to their investment in the underlying Sharia-compliant finance lease structure.
Related terms
+ sukuk al-ijara / sukuk al ijara
International, USA
A form of sukuk derived from the ijara lease financing structure. In a sukuk al-ijara transaction, the:
• Entity seeking capital (the originator) sells assets to a special purpose vehicle (SPV).
• SPV finances the purchase of these assets with the proceeds of a sukuk issuance.
• SPV holds the assets in trust for the sukuk holders who each own a proportionate interest in the assets in accordance with the value of their investment.
• SPV then leases the purchased assets to the originator or an affiliate of the originator.
• SPV uses the lease payments to make payments to the sukuk holders.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • 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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