Sukuk
Sukuk are certificates representing ownership in an underlying asset or project, structured as an alternative to conventional, interest-bearing bonds. Returns come from the asset's performance, not a fixed interest payment. Fatwas on specific sukuk products examine how closely their structure matches this description.
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Is zakat obligatory on the principal amount of Islamic Sukuk bonds that is reclaimed after their maturity, given that zakat was annually paid on their returns?
The Zakat on Islamic Sukuk depends on the type of asset invested: 1. If the asset is in trade goods (e.g., real estate for sale): The value of the principal and the profits are subject to Zakat upon the completion of…
What is the ruling on repeated oaths not to drink from the money of national sukuk, and what should the questioner do with her family who have not responded to withdrawing their money from these sukuk?
First: Whoever wishes to engage in a transaction must know its ruling. There is no blame upon one who relies on the fatwa of trustworthy scholars permitting it. However, if its prohibition becomes clear to someone, they…
Is zakat obligatory on the profits or on the principal of Islamic sukuk purchased three years ago?
Zakat is obligatory on Islamic sukuk (certificates) if they are intended for trading. They should be valued at their market price at the end of the hawl (one lunar year), and one-quarter of one-tenth (2.5%) of their…
Questions that use it
What is the ruling on UAE National Sukuk in general, and what is the ruling on keeping only their profits while disposing of the prize amounts by spending them on charitable causes?
Is zakat obligatory on an investment sukuk amount that has reached the nisab and on which zakat has become due, and which is invested in Abu Dhabi Islamic Bank under a three-year sukuk system with a monthly return, knowing that a car was purchased with this sukuk as collateral and its installments continue for five years, where the monthly return from the sukuk is used and an amount from the salary is added to complete the installment, and that the bank renews the sukuk to guarantee its right until the installments end, and thus the original amount cannot be utilized until the full installments are paid?
Is there a book that addresses the selling of coupons and sukuk, even partially?