SPV (Special Purpose Vehicle) تعارف،احکام، صکوک میں کردار اور صکوک ہولڈرز کی ملکیت پر اس کا اثر
Special Purpose Vehicle: Intrudoction, Sharia’a Rulings and its impact on the ownership of Sukuk Holders
Sukuk has become an integral part of Islamic economic system and Islamic financial institutions because of it's need and importance. What differentiates sukuk from the conventional interest-bearing bonds is the factor of ownership in an asset for the sukuk holders based on their ratio of sukuk holdings. However, what remained a topic of research is the ownership status and the rights of sukuk holders upon the underlying sukuk asset. Since There were several problems and difficulties in transferring property from the ownership of the Originator to the ownership of the Sukuk holders, for example, the number of Sukuk holders usually exceeds thousands, so it is impossible to register the property with this large number of names, as well as taxes would become higher when we transfer property from the Originator to the holders of Sukuk. Therefore, in order to solve these problems, contemporary jurists borrowing from the western laws, presented the idea of a Special-Purpose Vehicle (SPV). In this paper, I introduce such a company, discuss its objectives and structure, its shariah ruling, and the affect it has upon the sukuk holders.
Authors who publish with this journal agree to the following terms:
- Authors hold on copyright and vouchsafe the journal right of first publication with the work at te same time licensed under a “Creative Commons Attribution License” which permits others to share the work with an acknowledgement of the work's authorship and inceptive publication in this journal.
- Authors may enter into a separate or an additional contractual arrangement for the non-exclusive distribution of the journal's published version of the work with an acknowledgement of its inceptive publication in this journal.
Authors are allowed and encouraged to post their manuscripts online and during the submission process, as it may lead to productive exchanges, as well as earlier and significant citation of the published work.