2019

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Browsing 2019 by Author "Sheikh Muhammad Umar"

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    Musharika Sukuk in Parallel to Ijara Sukuk– A Suggested Tool to Boost Pakistan’s Economy
    (UMT, Lahore, 2019-02) Sheikh Muhammad Umar
    ABSTRACT: Project purely bases on promoting the viability of Musharika sukuk through which a strong economy can be built and it is only possible when we shall know about sukuk, its kinds and mainly knowing and then comparing Ijaraah sukuk with Musharika sukuk as in Pakistan only Ijaraah sukuk(s) are issued yet. When we talk about Ijaraah sukuk one very common question arises that is Ijaraah sukuk contributing in our economy or are simply a tool to raise funds like of bonds in conventional capital market. Whereas Musharika Sukuk by using the pure concept of Shirkat can help establish new industries, mega projects which can help increase productive activities in Pakistan and ultimately result in curtailment of unemployment, improvement of quality life of people of Pakistan, reducing the gaps of balance of trade and making the country self-sufficient. Hence in order to strengthen our arguments and to prove that issuance of sukuk on Musharika basis can really help grow our economy we shall be studying the concepts of Shirkat, its sharia rulings. Furthermore discussing real case studies of Ijaraah sukuk and hypothetical Musharika sukuk in Pakistan perspective and analyzing the benefits achieved by Malaysian economy through issuance of Musharika sukuk and in the end concluding the practicality and importance of Musharika sukuk which can help in growth of economy, and bring benefits for both GOP as well as for investors.