Forward Lease Sukuk in Islamic Capital Markets by Ahcene Lahsasna & M. Kabir Hassan & Rubi Ahmad

Author:Ahcene Lahsasna & M. Kabir Hassan & Rubi Ahmad
Language: eng
Format: epub
ISBN: 9783319942629
Publisher: Springer International Publishing

No

Area of risk

Risk mitigation

1

Ownership of material

The Islamic bank is not the owner of the materials in the possession of the manufacturer for the purpose of producing the asset. It has no claim on it in the case of any non performance

Security is available with the bank

2

Delivery risk

The bank may be unable to complete the construction of the project as scheduled due to late delivery of completed goods by the subcontractor in parallel istisna ’

On the basis of the rule of “shart-e-jazai” the bank can put in the istisna ’ agreement clause to reduce the price in the case of delay

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