The Sharia status of Sukuk Mudarabah and its forms

صکوک مضاربہ کی شرعی حیثیت اور اس کی صورتیں

Abstract

This article provides an overview of the Mudarabah Sukuk market. The purpose of this article is to provide empirical evidence that mudarabah sukuk differ from conventional bonds in terms of risk. The issuance of Mudarabah Sukuk based on Islamic principles is an important goal of Islamic financing and a major source of development of Islamic economy in the global market, but the condition is that these Mudarabah Sukuk should take into account all the basic principles that make Islamic economy non-Islamic. Separate from the economy.

Mudarabah is a type of business partnership that involves capital on one side and labor on the other. Under this agreement he will share in the profits of the business in a certain proportion and there may be several people providing capital and labour. These are bonds that show that the holder has given that much money on the basis of Mudarabah. These sukuk are either issued by companies that want to raise capital on the basis of Mudarabah, or are issued by them. It is done on behalf of the financial institutions that have given money on Mudarabah. Mudarabah in Shariah terms refers to a contract in which one party owns the property and the other party has the power and both share in the profits.

A critical and comparative approach has been adopted in this paper. This paper provides a critical review of the theoretical and empirical literature on mudaraba sukuk from three perspectives. This paper shows that the literature on mudaraba sukuk is based mostly on qualitative research rather than quantitative research, with most of the scholarly research being conference and It is in the form of seminar papers.

If sukuk are issued on this basis, they will be of great importance in expanding Islamic finance and will play a major role in achieving the objectives of Shariah. The findings in this paper show that by identifying the risk inherent in sukuk mudarabah, It can enable stakeholders to resolve related funding issues.