IBANK 10.1.4 Categories of sukuk according to ownership of assets

Sukuk may also be categorised, based on the sukuk holders' ownership of the underlying assets, into:

(a) asset-backed sukuk where legal and beneficial ownership of the underlying assets are transferred to the sukuk holders; and
(b) asset-based sukuk where only beneficial ownership of the underlying assets is transferred (through a trust) to the sukuk holders.
Inserted by QFCRA RM/2017-1 (as from 1st April 2017).