Sukuk securities, their definitions, classification and pricing issues

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Book Chapter

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Ariff, M., Safari, M., & Mohamad., S. (2012). Sukuk securities, their definitions, classification and pricing issues.In M. Ariff, M. Iqbal & S. Mohamad (Eds.). The Islamic Debt Market for Sukuk Securities: The Theory and Practice of Profit Sharing Investment (pp 11-41). Cheltenham, UK: Edward Elgar Publishing

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2012 HERDC submission. FoR code: 140210

© Copyright Mohamed Ariff, Munwar Iqbal and Shamsher Mohamad, 2012




Extract: Islamic securities are specially tailored financial products that conform to a given set of legal-common-law-based {shari'ah) financial transaction
principles, which are deemed strictly applied when designing financial contracting terms covering such products. These principles are quite different from those used in the design of conventional securities. The principles guiding the design of these securities evolved over some two and a half centuries without reference to such doctrine-based principles as are applied in designing Islamic financial products in historical times.

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