A Critical Appraisal of Shari'ah Issues Related to Sukuk al-Ijarah

ISBN/ISSN: 0128-1976 (Printed) | E-ISSN 2289-4365
Pages: 208
Year: 2012

This publication is part of the journal ISRA International Journal of Islamic Finance (English Journal) (2012-1)

This research examines the Shari'ah issues associated with two types of sukuk al-ijarah. The first issue relates to sukuk alijarah al-muntahiyah bi al-tamlik, i.e., sukuk based on assets that are the subject of lease agreements ending in the transfer of ownership back to the party from whom the assets were originally purchased; what is the Shari'ah ruling on issuing and trading such sukuk? The second issue relates tosukuk al-ijarah al-mawsufah fi al-dhimmah, that is sukuk based on forward leases; what is the rule for issuing and trading such sukuk?



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