Sukuk (Islamic Bonds)
Shariah-compliant debt instruments representing fractional ownership in tangible assets.
Detailed Definition
Sukuk are the Islamic equivalent of bonds. Instead of paying interest, Sukuk grant investors undivided proportional beneficial ownership in underlying tangible assets, usufruct, or business projects, generating returns derived from real economic lease profits (Ijara) or revenue yields.
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Related in Islamic Finance
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A partnership where one party provides 100% of the capital while the other provides managerial expertise.
Nisab
The minimum threshold of qualifying wealth an individual must possess before Zakat is due.
Zakat
An obligatory Islamic wealth tax of 2.5% on qualifying surplus assets held for one lunar year.