21.04.2011 - Sukuk: The challenges ahead
Sukuk (the Arabic word for legal instrument or a name for a financial certificates) is Islamic equivalent of bonds. Islamic finance does not recognize fixed income or income bearing bonds, as such sukuk securities are structured to comply with Islamic laws and investment principles, which does not allow charging or paying of interest. Financial assets which comply with Islamic finance can be classified in accordance with tradability in the secondary markets. It is asset class that enables organizations to raise capital in a shariah compliant manner.............................................Full Article: Source
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