Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/229886 
Year of Publication: 
2009
Citation: 
[Editor:] Securities and Exchange Organization [Title:] Series of Essays on Islamic Capital Market [Publisher:] Securities and Exchange Organization of Iran [Place:] Teheran [Year:] 2009
Publisher: 
Securities and Exchange Organization of Iran, Teheran
Abstract: 
After the Islamic Revolution in Iran, investing in bonds by the private sector was recognized as incompatible in accordance with Islamic jurisprudence. Therefore Musharakah certificate substituted bond. Musharakah sukuk is bearer or registered securities issued based on certain par value for the certain period of time and sold to the investors which want to participate on execution of projects. Issuer, subject-matter of participation, on-account profit, agent and Trustee are the components of the sukuk in the Law concerned. Development of Musharakah sukuk in two phases, from it's commence in 1994 to now was explained in the article with the characteristic of some projects. In spite of remarkable successes of Musharakah sukuk in Irn, it faces some challenges.
Subjects: 
Musharakah
Islamic finance
Iran
Sukuk
Participation-on account profit
Document Type: 
Book Part
Document Version: 
Accepted Manuscript (Postprint)

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