View source for REITs by Muhammad Shoiab



== Top 20 FREQUENT WORDS ==
sukuk 68
financing 57
sharia 57
estate 48
coordination 39
department 39
purchase 26
ijara 23
lease 21
customer 19
islamic 19
mudaraba 18
musharaka 16
assets 14
istisna 13
profit 13
investment 12
structure 12
agreement 10
basis 10
construction 10
rental 10



== DOCUMENT KEY POINTS ==
*sharia coordination department real estate financing and sukuk a c sharia offers various structures for real estate financing based on the requirements of the respective parties a c each sharia compliant mode of financing distinctly exemplifies the essential feature of ownership and risk a c growth witnessing assets exceeding
*a c in year of corporations non loan fundings were sharia compliant in the mena region

*sharia coordination department real estate financing and sukuk murabaha a c murabaha is widely used mode of finance in islamic finance industry in general and for real estate financing in particular
*a c however it can only be used for a c ready property a c for a shorter financing tenor for the reason of fixed return a c involves less risks as it creates debt obligation on the customer a no ownership risk

*sharia coordination department real estate financing and sukuk murabaha a c the bank buys the property and sells it to the customer on murabaha cost profit basis
*a c liability is known from day one a no surprises or uncertain exposure

*a c best suited for islamic financial institutions a conventional institutions may have some regulatory problems in ijara a c it is generally perceived that notwithstanding sharia requirements the documentation should be in accordance with the applicable law which is not free from risk from sharia compliance perspective
*sharia coordination department real estate financing and sukuk ijara a c ijara is less risky as compared to other financing structures a c strict compliance with sharia and the applicable law is required for enforceability

*a c unlike conventional finance sharia has a special treatment to issues such as increased cost mandatory cost asset ownership taxes major maintenance asset insurance and remedies in the event of total or partial loss
*sharia coordination department real estate financing and sukuk ijara a c liability is known from day one a no surprises or uncertain exposure

*sharia coordination department real estate financing and sukuk ijara a c ijara structure involves purchasing an asset from the customer or a third party and leasing the same to the customer
*a c care needs to be taken in order to ensure that the transaction does not become a conditional sale or a contract of inah

*sharia coordination department real estate financing and sukuk ijara a c ijara two types a c ijara muntahia bittamleek finance lease a c operating lease a c in ijara muntahia bitammaleek transfer of ownership at the expiry of lease term must be through a unilateral undertaking to be exercised at the expiry of the lease term and the transfer should either take the form of sale at nominal price or gift
*a c appropriate structure for all purpose financing needs

*a c lease of the underlying assets starts on the date of delivery of the asset to the lessee and the lessee s obligation to pay rental triggers with the commencement of the lease
*sharia coordination department real estate financing and sukuk ijara mousoofa fizzimma lease of specified item s which are to be delivered after manufacturing or construction a c ijara in respect of an asset under construction takes the form of ijara mousoofa fizzimma

*sharia coordination department real estate financing and sukuk ijara mousoofa fizzimma a c although investment in assets under construction through ijara mousoofa fizzimma may not be free from certain downsides it still has potential to serve both the parties ie customer and financier a addressing the project financing requirements
*a c appropriate structure for project financing

*a c istisna requires combination of either lease of the purchased assets back to the seller or sale of the purchased assets to the customer provided that the purchase is not from the same customer
*sharia coordination department real estate financing and sukuk istisna a c in istisna sale the seller sells a described property to be delivered to the purchaser once the same is completed

*a c mudaraba can be of two types a c project basis a no need for sharia compliance of financial ratio however underlying activities must be sharia compliant
*sharia coordination department real estate financing and sukuk mudaraba a c mudaraba is a very flexible real estate financing structure

*a c mudarib s performance is assessed on the basis of the investment plan it has provided to the financier in order to obtain financing
*sharia coordination department real estate financing and sukuk mudaraba a c mudaraba financing is an investment therefore it requires an investment plan

*sharia coordination department real estate financing and sukuk agency wakala a c investment agency structure for real estate financing is another flexible structure
*a c it operates on the principal similar to mudaraba except the profit distribution

*sharia coordination department real estate financing and sukuk musharaka two structures a c sharikatul aqd contractual partnership a c musharaka mutanaqisa diminishing musharaka a c normal musharaka example jafza sukuk a c sharikatul milk co ownership
*a c volcano sukuk dib sukuk and eib sukuk

*sharia coordination department real estate financing and sukuk sukuk islamic bonds a c sukuk certificates represent ownership in the underlying assets usufruct and services or the assets of particular projects or investment activities
*a c the ownership must be real not beneficial ie economic benefits or entitlements

*sharia coordination department real estate financing and sukuk sukuk islamic bonds a c global sukuk issuance reaches billion
*mena bond issuance global local currency and dollar sukuk issued by sukuk vs

*a c for real estate sukuk can be issued using any of the sharia contracts for the following i the development of a particular real estate project or ii the working capital or the construction cost
*sharia coordination department real estate financing and sukuk sukuk islamic bonds a c sukuks are issued on any of the foregoing sharia contracts

*sharia coordination department real estate financing and sukuk sukuk islamic bonds a c choosing a structure for a sukuk depends on the following a c purpose for which the money is required a c assets which will be used to raise money a c income stream and payment and a c tenor a c using a right structure in view of the transaction requirements is a real sharia issue
*a c examples al dar nakheel tamweel pcfc and dca

*sharia coordination department real estate financing and sukuk sukuk islamic bonds a c sukuk are more economical than conventional financing a c investor gets comfort from the fact that being a public transaction the structure commercial issues and documentation may have gone through the eyes of experts including sharia scholars a c tradability of sukuk depends on the assets ownership and the sharia structures on which they are based
*a c most of the sukuk structures are tradable

*sharia coordination department real estate financing and sukuk sukuk islamic bonds a c increase in volume and popularity throughout the world would definitely make the sukuk a better alternative for project financing
*a c in view of the recent academic controversies new structures such as sharika tul milk asset purchase and lease back have become increasingly popular


 ''Please note, This is an auto generated summary based on sentances position in the document and other factors''
== DOCUMENT WORD ANALYSIS ==
=== Main Category ===
: AlHuda Material\sukuk islamic


=== KeyWords ===
reit estate invest tax trust NA account incom NA finance boardwalk manage rental busi pakistan limit leas properties NA distributable



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== DOCUMENT REFERENCES ==


=== Number of Pages ===
40


=== Published Date ===
2016-09-17 00:55:00


== Full Document ==


[http://45.40.136.134/~hodhood/HodHoodDocuments/IslamicFinance/SukukIslamic/REITs%20by%20Mian%20Mohammed%20Nazir.pdf Read the Full Document]


[[Category:Islamic Finance]]

[[Category: Sukuk Islamic]]