Save

Different Structure, Neither Debt nor Equity: What Should Be the Approaches for Restructuring Ṣukūk (Islamic Bonds) Default?

In: Arab Law Quarterly
View More View Less
  • 1 School of Distance Education, Universiti Sains Malaysia, Minden, Penang, Malaysia
Download Citation Get Permissions

Access options

Get access to the full article by using one of the access options below.

Institutional Login

Log in with Open Athens, Shibboleth, or your institutional credentials

Login via Institution

Purchase

Buy instant access (PDF download and unlimited online access):

€29.95$34.95

Abstract

This study discusses the issues of ṣukūk (Islamic bonds) default surrounding its transaction structures and potential for restructuring the default. By explaining the basic concept of ṣukūk structure, this study further provides a classification of ṣukūk from the perspectives of the standard-setting bodies and credit-rating agencies. Since the structures that underpin ṣukūk vary and technically ṣukūk is neither debt nor equity, this study provides the potential restructuring of ṣukūk in cases of default. The contingent approaches such as extending maturity, haircut and debt-equity swap are based on the classification of ṣukūk structures and require a case-by-case approach.

Content Metrics

All Time Past Year Past 30 Days
Abstract Views 209 192 11
Full Text Views 24 21 0
PDF Views & Downloads 37 32 0