The article discusses the historical development of sukuk (Islamic securities) and the approach towards the prohibition of riba (in short: interest). The authors assess what different approaches can be taken towards the prohibition of riba and illustrate how the industry has been moving from idealist approaches towards more pragmatic approaches by describing several sukuk structures. The authors also discuss the way forward.
To read the article click here. This article is available in English only.
Authors: Omar Salah and Professor Abdullah Saeed (Sultan of Oman Professor at the University of Melbourne).
Source: J.I.B.L.R., 2014 Issue 1 © 2014 Thomson Reuters (Professional) UK Limited and Contributors
Omar Salah has co-authored an article in the Journal of International Banking Law and Regulation.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
