Definitions for sukuk
sukuk

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1. Sukuk

   Sukuk (Arabic: صكوك‎ ṣukūk, plural of صك ṣakk, "legal instrument, deed, cheque") is the Arabic name for financial certificates, also commonly referred to as "sharia compliant" bonds. Sukuk are defined by the AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) as "securities of equal denomination representing individual ownership interests in a portfolio of eligible existing or future assets." The Fiqh academy of the OIC legitimized the use of sukuk in February 1988.Sukuk were developed as an alternative to conventional bonds which are not considered permissible by many Muslims as they pay interest and may finance businesses involved in non-Sharia-compliant activities (gambling, alcohol, pork, etc.). Sukuk securities are structured to comply with Sharia by paying profit, not interest—generally by involving a tangible asset in the investment. For example, Sukuk securities may have partial ownership of a property built by the investment company (and held in a Special Purpose Vehicle), so that sukuk holders can collect the property's profit as rent, (which is allowed under Islamic law). Because they represent ownership of real assets and (at least in theory) do not guarantee repayment of initial investment, sukuk resemble equity instruments, but like a bond (and unlike equity) regular payments cease upon their expiration. However, most sukuk are "asset-based" rather than "asset-backed"—their assets are not truly owned by their Special Purpose Vehicle, and their holders have recourse to the originator if there is a shortfall in payments.Different types of sukuk are based on different structures of Islamic contracts (Murabaha, Ijara, Istisna, Musharaka, Istithmar, etc.) depending on the project the sukuk is financing.According to the State of the Global Islamic Economy Report 2016/17, of the $2.004 trillion of assets being managed in a sharia compliant manner in 2014, $342 billion were sukuk, being made up of 2,354 sukuk issues.In common usage outside of Arabic-speaking countries, the word "sukuk" is often used both as singular as well as plural. (In the Arabic language, "sukuk" is plural, "sakk" is singular.)

How to pronounce sukuk?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say sukuk in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of sukuk in Chaldean Numerology is: 1

2. Pythagorean Numerology

   The numerical value of sukuk in Pythagorean Numerology is: 2

Examples of sukuk in a Sentence

1. Kartika Wirjoatmodjo:

   We plan to ask for restructuring of the maturing global sukuk, we have engaged with an adviser, who has begun to communicate with bondholders.

2. Bashar Al Natoor:

   This could be another form of hybrid sukuk, for instance ijara and wakala, istisna has not been used extensively but it is something that could also be explored.

3. Jonathan Fried:

   The next stage will be sukuk issuance by Chinese entities, facilitated and co-managed by these banks.

4. Mohammed Ali Yasin:

   Sovereign or high-grade bonds and sukuk have become the preferred instrument in the short term until the markets become less volatile.

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References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Sukuk