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)

Answer rating: 100% (QA)

The Shariah Advisory Council SAC belongs to the Securities Commission Malaysia SC The SAC in its 2... View the full answer