In our latest white paper, Kia Williams (Portfolio Manager at FIM Partners) explores one of the central themes reshaping the Sukuk landscape in a piece titled “AAOIFI Shariah Standard No. 62: Redefining Sukuk Structures for Authentic Islamic Finance”.

The new standard represents a material shift in sukuk structuring, aiming to reinforce Shariah authenticity through true asset ownership, genuine risk-sharing, and enhanced transparency. This paper summarizes the key provisions of the standard and what they mean for issuers, investors, and market participants.

Key highlights include:

• The end of fixed-return structures in equity-based sukuk (e.g. Mudaraba, Musharaka)
• The requirement for full legal asset ownership – not just beneficial ownership
• Prohibition of guarantees, purchase undertakings at par, and embedded promises
• Practical implications for Wakala, Mudaraba, and asset-based sukuk structures
• Market transition timelines and jurisdictional considerations

Access the full document here: White Paper – AAOIFI Shariah Standard No. 62

To request a replay of our recent webinar “Sukuk In Transition” please email us at: investorrelations@fimpartners.com

 

 

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