The Legal Aspects of Sukuk Investment: Moroccan Experience as a Model

Sukuk investment has been the most important financial instrument compatible to prescribe of Shariah, and this instrument has been growing tremendously. Hence, it is considered the fastest growing sectors in Islamic finance industry.
From a theoretical point of view, Sukuk investment is defined as certificates of equal value that represent an ownership over underlying asset, or represent an usufruct on buildings, services, and so on. These financial assets must abide by the Shariah. Sukuk certificates and the organisms that manage them are subject to regulations from the Moroccan legislator and need to comply with Shariah principles.

Keywords: Sukuk, SPV, originator, sovereign Sukuk, asset-based, asset-Backed.