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Wakala Sukuk

Arabic (صكوك الوكالة) for agency certificates; a type of sukuk (pl. of sakk) in which the underlying contract is wakala.…

Purchase Undertaking in Sukuk

An undertaking (binding promise– wa’ad mulzim) by either the issuer of sukuk or the manager of sukuk-financed project/assets to repurchase…

Guaranteeing Principal Repayment in Sukuk

A guarantee or undertaking (binding promise– wa’ad mulzim) by either the issuer of sukuk or the manager of sukuk-financed project/…

Mubadalat al-Ribh

Arabic (مبادلة الربح) for profit rate swap. By definition, it is an Islamic swap that entails the exchange of a…