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Sukuk and bonds are intended to provide investment with less risk than equities (such as shares of stock) and so are often used to "balance a portfolio" of investment instruments. [ 38 ] Both Sukuk and bonds must issue a disclosure document known as a prospectus to describe the security they are selling.
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]
Sukuk, (plural of صك Sakk) – often called "Islamic" or "sharia compliant" bonds – are financial certificates developed as an alternative to conventional bonds. Different types of sukuk are based on different structures of Islamic contracts mentioned above (murabaha, ijara, wakala, istisna, musharaka, istithmar, etc.), depending on the ...
In addition to being used by Islamic banks, murabahah contracts have been used by Islamic investment funds (such as SHUAA Capital of Saudi Arabia and Al Bilad Investment Company), [4] and sukuk (also called Islamic bonds)(an example being a 2005 sukuk issued by Arcapita Bank sukuk in 2005). [4]
Other sources include sukuk (also called "Islamic bonds") [1] and direct equity investment (such as purchase of common shares of stock) as types of PLS. [ 1 ] The profits and losses shared in PLS are those of a business enterprise or person which/who has obtained capital from the Islamic bank/financial institution (the terms "debt", "borrow ...
"Development of Sukuk: Pragmatic and Idealist Approaches to Sukuk Structures" (PDF). Journal of International Banking Law and Regulation (1): 41– 52; Sairally, Salma (2007). "Evaluating the `social responsibility` of Islamic finance: Learning from the experiences of socially responsible investment funds" (PDF). In Munawar Iqbal; Salman Syed ...
Iran will also issue $15 billion in sukuk (Islamic Sharia-based) bonds in 2012 to be invested in the domestic oil industry. [50] Trading of Islamic bonds using the salam format, a deferred sale contract, was disallowed by AAOIFI in 2007. But in Iran's debt market, salam is a common form of sukuk. [9]
The Bond and Sukuk Information Exchange or BIX is a non-profit organisation information platform which provides free public access to information on bond and sukuk (Islamic bond) issued in Malaysia. The BIX, a comprehensive and up-to-date information on the Malaysia bond and sukuk market, also provides an increase in transparency in both the ...