The Legal Relationship between Special Purpose Vehicle and Investors in Lease (Ijra), Interest Sale (Murabaha) and Profit Sharing (Mudarabah) Securities | ||
| تحقیقات مالی | ||
| Article 2, Volume 15, Issue 2, November 2013, Pages 161-180 PDF (353.49 K) | ||
| Document Type: Research Paper | ||
| DOI: 10.22059/jfr.2013.51075 | ||
| Authors | ||
| Mahdi Bagheri* 1; Ali Rafiee Moghaddam2 | ||
| 1M.Sc. in Private Law, University of Shahid Bahonar, Kerman, Iran | ||
| 2Assistant Prof. in Private Law, University of Emam Sadeq, Tehran, Iran | ||
| Abstract | ||
| Sukuk are of the new financial instruments which have been welcomed in Islamic countries. In the process of sukuk publication various institutions and individuals are involved which cause different legal relationships. Understanding the legal nature of these relationships is important to determine the legal rights and obligations of each party. One of the relationships that exists in all sukuk is the Special Purpose Vehicle (SPV) and the Investors relationship. SPV takes certain legal actions on behalf of investors and by using their money. The legal nature of this relationship is analyzable by varies contracts such a shire of persons, commissioning and attorney. The nature and the type of this article is analytical and descriptive and it has been conducted in library style and using electronic resources. In this article, after examining the probability of these contracts’ governance over the mentioned agreement, we concluded that in present circumstances, the best option for governing this relationship is article 10 of the civil code. | ||
| Keywords | ||
| Investors; Murabaha (Interest Sale) and Mudarabah (Profit Sharing) Securities; Special Purpose Vehicle (SPV); Sukuk; The Freedom of Contract Principle | ||
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