RT Journal Article SR Electronic T1 An Overview of Islamic Sukuk Bonds JF The Journal of Structured Finance FD Institutional Investor Journals SP 58 OP 67 DO 10.3905/JSF.2009.14.4.058 VO 14 IS 4 A1 S.R Vishwanath A1 Sabahuddin Azmi YR 2009 UL https://pm-research.com/content/14/4/58.abstract AB Sukuk (plural) are unique fixed-income vehicles structured as asset-, project- or service-backed entities. They provide proportionate ownership in a designated asset or pool of assets. This enables investors (sukuk holders) to have an undivided, beneficial ownership in the underlying assets, entitling them to a share of the revenues and proceeds upon disposition. A saak (singular) offers the diversification of fixed income, paying an income stream (similar to rental income), while remaining Shari’ah compliant. Since interest- bearing instruments are not permissible under Islamic Investment Principles, the investment concept called sukuk was created as an alternative to traditional bonds. Sukuk are asset-based securities whereas bonds are debt-based. Sukuk are not subject to interest-rate movements. This article provides an overview of the market for sukuk.TOPICS: Developed, fixed income and structured finance