Arabic (صكوك المساقاة) for a type of sukuk al-musharakah; sukuk al-musaqat are certificates of equal value (sukuk) that are issued for the purpose of using the funds mobilized from subscribers in the irrigation of fruit-bearing trees on the basis of musaqat contract. These funds could also be used in caring for the trees in terms of pest control, fertilizers, pruning, etc. The sukuk holders become entitled to respective shares in the crop as per the terms of the contract.

These sukuk are usually issued by the land owner or the owner of its usufruct and subscribed by those who take on irrigation works. The funds realized through subscription are used to cover the costs related to irrigating and maintaining the trees. Those sukuk may also be issued by the irrigator and subscribed by the land owner(s).

It is permissible by shari’a to trade in these sukuk, in the case where sukuk holders own the land, provided that subscription is closed, sukuk are allotted, and activity is commenced. If the sukuk holders are the party in charge of work, trading in these sukuk is impermissible before the results of work have materialized, i.e., the fruits are full-grown or ripe.