The role of Islamic investment “sukuk” in improving and developing living standards in slum areas
Section: RESEARCH
Abstract
sukuk (Islamic bonds) can be considered well suited for investment in slum areas to improve and develop living standards. This is because these sukuk are documents of equal value representing common shares in ownership of property, utilities, services or assets in a specific project, after collecting the value of the Sukuk, closing the subscription door and starting using them for what they were issued for, and are issued in the names of their owners in exchange for the money they provide to implement the project and exploit it and achieve the return for a period It is defined in the prospectus according to the principles and provisions of Islamic Sharia, and therefore it is an Islamic alternative free of interest, and it is the place of traditional bonds. Many legislations have addressed this important tool in project financing, as in the Jordanian Islamic Finance Sukuk Law No. 30 of 2012 and the Tunisian Islamic Sukuk Law No. 30 of 2013, and it has been stipulated in the Iraqi Islamic Banking Law No. 43 of 2015 and Iraq is working to find a draft of controls in this regard from Accepted the Central Bank of Iraq since 2017, but it has not been issued yet.
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- A-Legislations:
- B - Sharia standards:
- Fifth: Legislation and legal standards.
- First: books
- Fourth: Masters and PhD dissertations.
- References
- Second: Research.
- Third: Global information network sources.