In this publication, Omar Salah sets out how sukuk transactions can be structured under Dutch private law and covers the Islamic and Dutch legal issues involved.
Omar Salah explains the fundamentals of Islamic finance and analyses Islamic contract, property, corporate and finance law. He describes how Islamic finance principles such as riba (in short: prohibition on interest) and gharar (avoidance of contractual uncertainty) have contributed to the development of Islamic finance contracts. The author examines the legal structure of sukuk transactions and the applicable Islamic finance rules. He then scrutinises three main sukuk transactions (the sukuk al-musharaka, the sukuk al-murabaha and the sukuk al-ijarah) under Dutch private law, mainly focussing on Dutch contract, property, insolvency and corporate law. The author concludes that there are no legal obstacles to introducing Islamic finance in the Netherlands. This work is of interest to academics and practitioners in the field of banking and finance law.
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