Arabic (صكوك الوكالة) for agency certificates; a type of sukuk (pl. of sakk) in which the underlying contract is wakalah. Sukuk al-wakalah are certificates representing ventures or business activities managed on the basis of an agency contract/ aqd al-wakalah (specifically, investment agency– or wakalah bil istithmar). An agent (wakeel) is appointed by the principal (muwakkel) to manage the operation on behalf of the sukuk holders (providers of funds).
Sukuk al-wakalah are also referred to as wakalah sukuk.
