sukuk al ijara

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 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

  • 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… …   Law dictionary

  • 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

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  • 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

  • musharaka sukuk — 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

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