Search results
Results from the WOW.Com Content Network
Singapore City Development Limited issued the first Ijara Sukuk in 2009, and Khazanah Shd Bhd issued a SGD1.5 billion Sukuk in 2010 to finance its acquisition of parkway holdings. In 2013, there were 2 new Sukuk Programmes arranged for Singapore listed companies—Swiber Holdings & Vallianz Holdings, with the former issuing a SGD150 million 5 ...
The sukuk market began to take off around 2000 and as of 2013, sukuk represent 0.25 percent of global bond markets. [197] The value of the total outstanding sukuk as of the end of 2014 was $294 billion, with $188 billion from Asia, and $95.5 billion from the countries of the Gulf Cooperation Council [Note 13]
In contemporary Islamic finance, ijara mawsoofa bi al dhimma is the leasing of something (such as a home, office, or factory) not yet produced or constructed. This means the ijara mawsoofa bi al dhimma contract is combined with a Istisna contract for construction of whatever it is that will provide the service or benefit. [18]
Different types of sukuk are based on different structures of Islamic contracts mentioned above (murabaha, ijara, wakala, istisna, musharaka, istithmar, etc.), depending on the project the sukuk are financing. [378] Like conventional bonds, sukuk have expiration dates.
One study from 2000-2006 (by Khan M. Mansoor and M. Ishaq Bhatti) found PLS financing in the "leading Islamic banks" had declined to only 6.34% of total financing, down from 17.34% in 1994-6. "Debt-based contracts" or "debt-like instruments" (murabaha, ijara, salam and istisna) were far more popular in the sample.
But in Iran's debt market, salam is a common form of sukuk. [9] Mortgage Backed Security (MBS) is allowed in Iran's secondary market (e.g. Farabourse). According to AAOIF, main structures of sukuks are: [54] Sukuk Ijara : “The transfer of ownership for an agreed upon consideration”
"Debt-based contracts" or "debt-like instruments" were far more popular in the sample. 54.42% of financing was on the basis of murabaha, 16.31% on the basis of ijara and 5.60% on the basis of salam and istisna during 2004-6. [70] [71] Another survey of the largest Islamic banks published in 2010 found PLS use ranging from between 0.5% and 21.6% ...
There are also Islamic investment funds and sukuk (Islamic bonds) that use murabahah contracts. [4] The purpose of murabaha is to finance a purchase without involving interest payments, which most Muslims (particularly most scholars) consider riba and thus haram (forbidden). [5]