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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Compliance, Tax, Legal, Regulatory more

Default cases reveal legal risk in Sukuk

Posted on 13 July 2009

From Aawsat.com: Riyadh, Asharq Al-Awsat-For the first time since the initial issuance of a Sukuk bond in Malaysia in 2001, cases of payments being defaulted on have occurred in the USA, Kuwait, and Malaysia. There are five legal cases that involve the default on payment of Sukuk [so far].

There are also some Sukuk cases that involve technical failures that are expected to develop into cases of legal default at any moment. Therefore the legal risk surrounding this type of [financial] bond – that falls under the provisions of Islamic Shariaa law – is beginning to become apparent……..Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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