The contracts, structures and pricing mechanisms of sukuk: A critical assessment

Razak, Siti Sarah; Saiti, Buerhan; Dinç, Yusuf

doi:10.1016/j.bir.2018.10.001

Cited by 39 publications

(54 citation statements)

References 15 publications

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“… Agreements made by sellers and buyers in terms of housing, or tenants and homeowners in terms of boarding houses, must use Islamic contracts such as Taqsith for sale and purchase [26], and Ijarah for rent [27].…”

Section: Al-mumtaz Residence Define Islamic Housing As a Housementioning

confidence: 99%

Trend of Islamic Dwelling in Indonesia and Its Differences with Conventional Dwelling

Hidayat¹,

Komarudin²

2019

Proceedings of the First International Conference on Administration Science (ICAS 2019)

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Dewan Syariah Nasional -Majelis Ulama Indonesia (The National Sharia Council of the Indonesian Ulema Council) has set regulations regarding the provisions that must be fulfilled by Islamic hotels in Fatwa Number 108 of 2016 about Islamic Tourism, but the fatwa has not regulated the phenomenon of Islamic dwelling in the form of houses or boarding houses that have started to appear in Indonesia. So this research is run with the aim to analyze how the community understands, especially the developers and occupants of Islamic houses regarding the definition of Islamic dwelling itself, along with the criteria that distinguish it from ordinary residential or conventional occupancy. This is a qualitative field research type with data sourced from Islamic dwellings in the city of Banjarmasin, to be analyzed inductively. Inductive analysis results from research data indicate that Islamic dwelling is a house and/or rental house and/or boarding house that is run based on Islamic principles and values. There are at least four criteria that need to be obeyed by an Islamic dwelling: Islamic contract; separation of men and women without any blood or marital relations, Islamic environment, and not to use the services of conventional financial institutions.

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Section: Al-mumtaz Residence Define Islamic Housing As a Housementioning

confidence: 99%

Trend of Islamic Dwelling in Indonesia and Its Differences with Conventional Dwelling

Hidayat¹,

Komarudin²

2019

Proceedings of the First International Conference on Administration Science (ICAS 2019)

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“…The principal (investor) appoints an agent (wakeel) to invest funds and the principal will then use the profit return to fund the periodic distribution amounts. Any excess from the periodic distribution amounts is paid to the wakeel as an incentive fee (Razak et al, 2019). Wakalah sukuk is suitable for issuing sukuk comprised of both tangible and intangible assets, giving issuers flexibility in selecting underlying assets (Aassouli et al, 2018) that otherwise would be considered nontradable debt arrangements as part of the investment portfolio comprising the sukuk assets.…”

Section: Wakalah Sukukmentioning

confidence: 99%

“…Wakalah sukuk is suitable for issuing sukuk comprised of both tangible and intangible assets, giving issuers flexibility in selecting underlying assets (Aassouli et al, 2018) that otherwise would be considered nontradable debt arrangements as part of the investment portfolio comprising the sukuk assets. Intangible assets include Shariah-compliant shares and receivables (Deloitte, 2018); however, 30 percent of the investment portfolio must be tangible assets (Razak et al, 2019).…”

Section: Wakalah Sukukmentioning

confidence: 99%

Innovations in Sukuk in the Global Finance Market: Reviewing Key Considerations

Zain¹,

Abideen²,

Ali³

2019

IJMAR

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Sukuk is one of the fast-growing financial areas in Islamic finance. This paper reviews innovative sukuk instruments in the global financial market in addition to looking at key considerations in facilitating innovative sukuk structures. Using secondary data collected from official reports and peer-reviewed journal articles the authors analysed five types of innovative sukuk structures offered in the market over the past decade. This paper also looks into the enabling role of Securities Commission Malaysia in promoting Malaysia as the top issuer of sukuk. The data analysed shows that sukuk issuers in Malaysia would benefit from high levels of government support through policy and incentives.

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“…The value of sukuk could be varied according to the value of the asset that is backing them. That criteria differentiate sukuk from bonds (Razak et al, 2018).…”

Section: Introductionmentioning

confidence: 98%

“…The first definition of modern-day sukuk was given in 1988 during the fourth session of the Council of the Islamic fiqh academy in Jeddah. This resolution was on mudharabah sukuk (trust based Islamic bond) (Razak et al, 2018). According to (IIFM Sukuk Report.…”

Section: Introductionmentioning

confidence: 99%

Does Profitability, Firm Size, and Macroeconomic Variable Affect Yield to Maturity of Corporate Sukuk?

Utami

Rohmana²

2020

J.Rev

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The purpose of of this research is to examine the influence of profitability, firm size, and macroeconomic variable on the yield to maturity of corporate sukuk. The yield to sukuk maturity that will be received by investors illustrates the level of investor profit but the yield level also describes the level of risk borne by investors. This research was conducted on all companies listed on the Indonesia Stock Exchange in the 2015-2018 period which issued sukuk ijarah and published its financial statements during the research period. The research samples is 54th ijarah sukuk This research was conducted using a quantitative approach with panel data. The data analysis technique used in this study is panel data regression with a fixed effect model. The results showed that profitability projected with Return on Asset did not affect the yield to maturity of sukuk ijarah, the size of the firm negatively affected the yield to maturity of sukuk ijarah, the BI-Rate variable had a positive and significant effect on yield to maturity of sukuk and inflation had a negative effect on yield of ijarah sukuk.

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The contracts, structures and pricing mechanisms of sukuk: A critical assessment

Cited by 39 publications

References 15 publications

Trend of Islamic Dwelling in Indonesia and Its Differences with Conventional Dwelling

Trend of Islamic Dwelling in Indonesia and Its Differences with Conventional Dwelling

Innovations in Sukuk in the Global Finance Market: Reviewing Key Considerations

Does Profitability, Firm Size, and Macroeconomic Variable Affect Yield to Maturity of Corporate Sukuk?

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