Question (1): What are diminishing "Musharakah sukuk"? ‫ما هي صكوك‬
‫المشاركة المتناقصة‬
Answer (1): These "sukuk" represent the proportionate share of partners in the joint
ownership of an asset. The financial institution or investor leases and gradually
transfer its share of ownership of the asset to the client. The lessee uses the
investor's share and by the end of the "musharakah" redeems and assumes
ownership of it.
Question (2) : In a 'Musharakah" that is managed by a single partner, is it
permissible to make this partner liable for administrative expenses of
the "Musharakah" in return for a certain fee in consideration of his
management? ‫ هل يجوز شرعا أن يتحمل هذا‬،‫في المشاركة التي يديرها احد الشركاء‬
‫الشريك التكاليف اإلدارية للمشاركة بمقابل اجر معين لهذه اإلدارة‬
Answer (2): It is not permissible to make one of the partners liable for the
expenses of the musharakah. Such expenses will be charged to the musharakah in
actualk whenever possible, or a reasonable estimate.
Question (3): What is the definition of 'Sukuk' ?‫ما هو تعريف الصكوك‬
Answer (3): "Sukuk" is an arabic term and a plural of the word "sakk", which means
certificate. Sukuk are defined as certificates of equal value representing undivided
shares in ownership of tangible assets, usufruct, and services.
Sukuk may be issued for various Islamic banking products; such as Ijarah,
Musharakah, Murabaha, Salam, and Istisna