Designing Separate Trading of Registered Profit and Principal of Sukuk in Iran Capital Market based on Imamieh jurisprudence

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TOHIDI MOHAMMAD; Karimi Meisam

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Journal: EGHTESAD-E ISLAMI Year:2019 | Volume:19 | Issue:75 Page(s): 235-263

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Information Journal Paper

Title

Designing Separate Trading of Registered Profit and Principal of Sukuk in Iran Capital Market based on Imamieh jurisprudence

Author(s)

TOHIDI MOHAMMAD | Karimi Meisam | Issue Writer Certificate

Keywords

StrippingQ1

sukukQ2

StripsQ1

Ijareh SukukQ1

Murabahah SukukQ1

Abstract

One of the challenges of Islamic securities is the differing tastes of issuers and investors in paying intermediate profits. issuers are less inclined to pay intermediate profits because they may have liquidity problems and in some cases may require short-term facilities, which may lead to higher financial costs, while investors tend to receive short-term coupons to increase their effective returns through reinvestment. In this descriptive-analytical study, by analyzing similar structures in conventional bonds and analyzing them and comparing them with Islamic securities structures, an innovative model is presented to address this challenge. The design pattern, with a well-defined and well-documented bonds, has similarities and differences with conventional separated bonds. In the designed pattern, in addition to the possibility of dealing in the principle of its securities and its coupon separately in two distinct symbols, with the names of "base papers" and "certificate of profit", there is also the ability to convert the specified volume of certificate of earnings to the base notes. In this research, the operational models of Ijareh, Murabahah, and Istisna sukuks are presented in a verifiable and verifiable manner and are investigated from an Islamic jurisprudence and financial point of view.

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APA: Copy

TOHIDI, MOHAMMAD, & Karimi, Meisam. (2019). Designing Separate Trading of Registered Profit and Principal of Sukuk in Iran Capital Market based on Imamieh jurisprudence. EGHTESAD-E ISLAMI, 19(75 ), 235-263. SID. https://sid.ir/paper/382158/en

Vancouver: Copy

TOHIDI MOHAMMAD, Karimi Meisam. Designing Separate Trading of Registered Profit and Principal of Sukuk in Iran Capital Market based on Imamieh jurisprudence. EGHTESAD-E ISLAMI[Internet]. 2019;19(75 ):235-263. Available from: https://sid.ir/paper/382158/en

IEEE: Copy

MOHAMMAD TOHIDI, and Meisam Karimi, “Designing Separate Trading of Registered Profit and Principal of Sukuk in Iran Capital Market based on Imamieh jurisprudence,” EGHTESAD-E ISLAMI, vol. 19, no. 75 , pp. 235–263, 2019, [Online]. Available: https://sid.ir/paper/382158/en

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