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Islamic Finance




Pooled Sukuk


A structure of sukuk whose underlying is a pool (portfolio) of assets mobilized through more than one type of contracting arrangements such as a pool of istisna’a, murabaha, and ijarah assets. This structure, which is based on a portfolio of assets from different modes, allows for a greater mobilization of funds. However, the portion of ijarah assets cannot be less than 51% of the entire pool because murabaha and istisna’a assets are by nature receivables (zhimamذمم) and returns on their sukuk can only be a preset fixed rate of return.

Pooled sukuk are also known as hybrid sukuk.



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