دور الھندسة المالیة في الابتكار والتطویر: الصكوك الإسلامیة أنموذجا

Abstract

This study aims to determine the role of Islamic financial engineering upon innovating and developing the Islamic Sukuk, through identify financial engineering phases, and their respective roles in various operations management of Islamic Sukuk: Issuances, breakdown of revenues, Taskeek and amortization, to ensure its compatibility with Islamic Shari’a (law). Furthermore, the research reviewed the most prominent achievements, that contributed by Organization of Islamic Cooperation (OIC) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in Islamic Sukuk innovation, in addition to shedding light on the dysfunction of some of the instruments that accompanied suspicions of legitimacy, which has led the researcher to emphasize upon the role of Fatwa and Shari'a supervisory boards in controlling the management of Islamic Sukuk, in all its various stages and levels