|
These are investment sukuk
that represent ownership of Musharaka equity. It does not differ from the
Mudaraba sukuk except in the organization of the relationship between the
party issuing such sukuk and holders of these sukuk, whereby the party
issuing sukuk forms a committee from the holders of the sukuk who can be
referred to in investment decisions (AAOIFI).
Musharaka Sukuk are used for
mobilizing the funds for establishing a new project or developing an
existing one or financing a business activity on the basis of partnership
contracts. The certificate holders become the owners of the project or the
assets of the activity as per their respective shares. These Musharaka
certificates can be treated as negotiable instruments and can be bought and
sold in the secondary market.
|
