Major Principles, Terms and Conditions Governing Ijarah Sukuk Issuance as Practiced in the Islamic Capital Market

Abstract

This chapter focuses on the major principles, terms, and conditions governing Ijarah sukuk issuance as practiced in the Islamic capital market. In practice, Sukuk has some specific Shariah and legal clauses in its legal documentation that should be observed to reflect the nature of the underlying principles and contract. These legal and Shariah aspects are documented in the Sukuk issuance under the principles, terms, and conditions. This chapter covers the description of the Islamic structure of the issuance, the important Shariah aspects of the structure of Ijarah sukuk, the important Shariah features in the legal documents, and other related terms in the Ijarah sukuk issuance.