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A contract which begins with
an Ijarah contract for the purpose of renting out leasing the lessor's asset
to the lessee. Consequently, at the end of the lease period, a lessee will
purchase the asset at an agreed price from a lessor by executing a purchase
( Bai` ) contract.
Remark: Sukuk has developed
as one of the most significant mechanisms for raising finance in the
international capital markets through Islamically acceptable structures.
Multinational corporations, sovereign bodies, state corporations and
financial institutions use international sukuk issuance as an alternative to
syndicated financing.
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