Mixed assets Sukūk trading: The maxim of “originality and dependency” is a model
List of Authors
  • Anwar Mohammad Noor , Mohammad Burhan Uddin

Keyword
  • Mixed assets Sukūk, maxim of originality and dependency, Sharī’āh law, Rībawī and non-Rībawī assets.

Abstract
  • The originality and dependency, one of the vital rule of mixed assets Sukūk tradability, is now being practiced in almost every Sukūk industry regardless of their nature, opinion, and size. Earlier Muslim Scholars have developed the idea of originality and dependency in various fields. This maxim has a great impact on mixed-assets Sukūk trading. Contemporary Muslim jurists have delivered a set of resolutions to deal with the mixed-asset Sukūk trading with money, debts, rights, and wealth but this matter is still disputed among Sharī’āh scholars. However, the main purpose of the study is to develop a new model of mixed assets Sukūk tradability from Islamic financial perspective. After an extensive literature review, the study has developed a conceptual and practical model based on Originality and Dependency for mixed assets Sukūk tradability. Therefore, the study has applied the analytical method to understand the main concept and features in three stages: interpretation, criticism, and exploration concerning jurisprudence and contemporary Islamic financial institutions. Finally, the study has concluded the trading of mixed assets Sukūk is permissible in the light of the legal maxim of Originality and Dependency with its terms and conditions based on Fiqhī studies and Usulī methods.

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