sukuk

Definition

An Islamic financial certificate, similar to a bond in conventional finance, that represents ownership in a tangible asset or project rather than a debt obligation.

Etymology

Derived from the Arabic word 'sakk', which historically referred to a legal document or deed. In modern usage, it specifically denotes an Islamic sharia-compliant financial certificate.

In the news

The article mentions the growth of the sukuk industry as a key topic of discussion for developing a regulatory framework for Islamic financial products. It highlights how these instruments are being integrated into modern fintech platforms to foster economic resilience.

Third day of Silk Road Finance & Technology Forum underway in Tashkent (PHOTO)

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