SUKUK MOLIYAVIY VOSITASINING OʻZIGA XOSLIGI. SUKUK VA OBLIGATSIYALARNING OʻZIGA XOS OʻXSHASHLIKLARI VA FARQLARINING NAZARIY TAHLILI
Kalit so'zlar
https://doi.org/10.47390/SPR1342V5SI7Y2025N25Kalit so'zlar
Sukuk, islomiy moliya, shariatga muvofiq moliyalashtirish, riba, obligatsiya, real aktiv, moliyaviy instrument, AAOIFI, IIFM, IFSB, egalik huquqi, foizsiz daromad, aktivga asoslangan moliya, moliyaviy risk, huquqiy-iqtisodiy tahlil, O‘zbekiston qonunchiligi, shariat tamoyillari, investitsiya vositasi, islomiy obligatsiya, kapital bozori.Annotasiya
Ushbu maqola islomiy moliya tizimining muhim vositasi — sukuklar mohiyati, huquqiy-iqtisodiy xususiyatlari va an’anaviy obligatsiyalardan asosiy farqlari haqida tahliliy ma’lumot beradi. Sukuklar “islomiy obligatsiyalar” deb atalgan bo‘lsa-da, ularning asosiy tuzilmasi mulkchilik munosabatlariga asoslangan bo‘lib, real aktivlar bilan ta’minlanadi va riba (foiz)dan xoli bo‘ladi. Maqolada AAOIFI, IIFM va IFSB kabi xalqaro moliyaviy tashkilotlar tomonidan berilgan rasmiy ta’riflar orqali sukukning shariatga muvofiqligi, ularning aktivga bog‘langanligi va egalik huquqlarini ifodalashi keng yoritiladi. Shuningdek, O‘zbekiston qonunchiligidagi obligatsiyalar ta’rifi bilan solishtirma tahlil beriladi. Sukuk foyda olishda risk va daromadni investor bilan emitent o‘rtasida taqsimlaydi, obligatsiyalardan farqli ravishda, oldindan belgilangan foiz stavkasiga ega emas. Maqola yakunida, sukuklarning shariatga asoslangan moliyaviy mexanizm sifatida ishlashi uchun maxsus tamoyillarga qat’iy rioya qilinishi zarurligi ta’kidlanadi
Manbalar
1 Are sukuk debt or equity? A classification of sukuk by regulatory bodies and credit rating agencies..
2 AAOIFI (Accounting and Auditing Organization of Islamic Financial Institutions). (Pp – 468).
3 AAOIFI, Shari’a Standards for Islamic Financial Institutions (AAOIFI 2010) 303–323.
4 IIFM, ‘IIFM Ṣukūk Report 1st Edition’ (IIFM, 2010) 3. http://www.iifm.net/docu-ments/iifm-sukuk-report-1st-edition. Accessed 4 March 2015.
5 M Safari, M Ariff and S Mohamad, Sukuk Securities: New Ways of Debt Contracting (Wiley & Sons 2014) 22.
6 R Ali and I Mufti, ‘Legal and Structural Anatomy of a Sukuk’ in R Ali (ed), Sukuk and Islamic Capital Markets (Globe Business Publishing 2011) 51.
1.7 Generally A Haqqi, ‘Shariah Governance in Islamic Financial Institution: An Appraisal’ (2014) 11 US-China Law Review 112.
1.8 SCA’s Decision No 16 of 2014 Concerning the Regulation of Ṣu kūk , Chapter 1, Article 1.
9 On the differences between sụ kūk , debt securities, and equity securities, see G Fuller, The Law and Practice of International Capital Markets (3 edn, LexisNexis 2012) 10; N Adam and A Thomas (eds), Islamic Bonds: Your Guide to Issuing, Structuring and Investing in Sukuk (Euromoney Books 2004) 54.
10 A Dusuki and S Mokhtar, Critical Appraisal of Shariah Issues on Ownership in Asset-Based Sukuk as Implemented in the Islamic Debt Market (ISRA 2010) 29.
