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Shariah Requirements in Sukuk Structuring
Sukuk structures have advanced from a plain vanilla fixed income instrument to a hybrid structure having both debt and equity features. Similarly, the language used in drafting present sukuk offering circulars has changed. Perhaps the most notable progression has been on the structuring side and obtaining of the fatwa for sukuk transactions. This article will therefore articulate some of the requirements and processes involved in current sukuk structuring.
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