Mixed Assets Sukūk Trading: The Maxim of “Originality and Dependency” is a Model
List of Authors
  • Ahmad Amin, Md Maruf Hasan, Mohammad Burhan Uddin

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Abstract
  • The originality and dependency, one of the vital rule of mixed assets SukÅ«k tradability, is now being practiced in almost every SukÅ«k 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 SukÅ«k trading. Contemporary Muslim jurists have delivered a set of resolutions to deal with the mixed-asset SukÅ«k 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 SukÅ«k 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 SukÅ«k 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 SukÅ«k is permissible in the light of the legal maxim of Originality and Dependency with its terms and conditions based on FiqhÄ« studies and UsulÄ« methods.


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