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