24 Rabi al-Thani 1443

Is it not possible that sukuk falls under بيع العينة considering the criteria for the sale of the asset is always that it is resold to the seller, or that it falls under buying a product that is not yet owned as in a fish in the water, or بيعتين في بيعة؟ I’m afraid most dealings replacing riba, but tagged halal still end up haram because they aim for same results

By Admin
In Islamic Economy
Jul 8th, 2020
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ANSWER:

This concept is a form of buying shares in a company or a project that one buys for a certain period of time where he is a partner in loss and profit.

If there is a trusted sharia board that overlooks the dealings of such sukook, investing in it is halal in Sha Allah. It is not بيع العينة because this is totally different than buying a share for a period of time and selling it afterwards according to the price of the market and not according to an agreed price!  

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