A classification of sukuk, from the perspective of sukuk-holders, where the underlying in the sukuk instrument is a business whose activities involve Islamic finance and investment, trade, services, or a combination thereof.

This classification distinguishes sukuk from such sukuk that have an asset or a set of assets as underlying (collectively known as non-business sukuk).

Financial reporting requirements differ according to a respective type of sukuk, particularly in terms recognition and measurement of the underlying, publishable set of financial reports, presentation and disclosures. For business sukuk, for example, recognition of the underlying business in the books of account of the sukuk entity entail applying accounting principles pertaining to the respective mode (finance, investment, trade, services, etc.)