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
Abstract
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.
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