e-journal

The effects of new AAOIFI standards on Sukuk in choosing the most authentic Islamic principles

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Purpose – This paper aims to analyse the new standards on Sukuk which was issued by the
Accounting and Auditing Organization for Islamic Financial Institution (AAOIFI) as a result of the
strong critics posed by Shaykh Taqi in the end of 2007 that 85 percent of Sukuk issuance were not in
line with the teachings of Shariah.
Design/methodology/approach – This study reviewed samples of Sukuk prior and after the new
AAOIFI pronouncement by focusing on controversial areas such as ownership transfer, pricing and
guarantee element. This paper used content analysis approaches to analyse the pronouncement and the
samples.
Findings – The findings showed that there were negligible changes on the principle term and
condition (PTC) of the Sukuk after the pronouncement, thus it did not have much effect in changing the
Shariah Advisors and industry players when deciding more authentic principles and decisions.
Originality/value – Based on the findings, it is acceptable that the advisors tried their very best in
making efforts to minimize controversial decisions as to suit current financial practices.

Keywords Sukuk, Shariah authenticity, Standards, Guideline, Framework, Best practice, Accounting,
Islam

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Ketersediaan

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Informasi Detail

Judul Seri

Journal of Islamic Accounting and Business Research

No. Panggil

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Penerbit

: Emerald Group., 2013

Deskripsi Fisik

Journal of Islamic Accounting and Business Research Vol. 4 No. 1, 2013 pp. 77-

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

AKUNTANSI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

Versi lain/terkait

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