Presentation of the criteria for verifying the predominance of fixed assets in shares as the basis for issuing Ijarah Sukuk

Abstract

In recent years, the Islamic securities market has grown significantly in Iran. One of the most important types of Islamic securities is Ijarah sukuk, which has been welcomed by founders seeking financing and has been able to acquire a significant market share in Iran and the world. Ijarah Sukuk is certificates of equal value that are issued by the owner of an existing property or asset either on his own or through a financial intermediary, to lease it against a rental from the subscription proceeds. One of the assets that are the basis for the issuance of Ijarah Sukuk is shares, which according to the shariah committee of the Securities and Exchange Organization of Iran, if the majority of the company's assets, whose shares are the basis for the issuance of sukuk, are fixed assets, the issuance of Ijarah sukuk on it equal to the value of the shares in Possession is allowed. The basic question in this research is what is the criterion of dominance in shares and how is it calculated? The current research is considered descriptive and practical. In this research, firstly, the decision of the Shariah committee on the predominance criterion is examined and criticized, then the proposed criteria for determining the predominance of rentable assets are presented and analyzed, and finally, the selected predominance criterion is presented

Keywords

• ijarah sukuk
• stock
• predominance criterion
• rentable property
• imamiah jurisprudence