On September 26th, 2019, the Shariah Advisory Council (SAC) of the Securities Commission Malaysia revised its resolution
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Question:
On September 26th, 2019, the Shariah Advisory Council (SAC) of the Securities Commission Malaysia revised its resolution on Asset Pricing Requirements for Sukuk Issuance, and resolved the following: “The purchase price of an identified asset under sukuk issuance must not exceed 1.51 times of:
a) the fair value of the asset;
b) any other appropriate value of such asset”. Analyze this resolution in light of Shariah requirements of pricing as stipulated in the Islamic law of contract. (20 marks)
Related Book For
Accounting
ISBN: 978-1337899451
27th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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