A structure of sukuk whose underlying is a pool (portfolio) of assets mobilized through more than one type of contracting arrangements such as a pool of istisna’a, murabaha, and ijarah assets. This structure, which is based on a portfolio of assets from different modes, allows for a greater mobilization of funds. However, the portion of ijarah assets cannot be less than 51% of the entire pool because murabaha and istisna’a assets are by nature receivables (zhimam– ذمم) and returns on their sukuk can only be a preset fixed rate of return.
Pooled sukuk are also known as hybrid sukuk.
Comments