Jurisprudential and Economic Evaluation of Issuing Ijarah Sukuk on condition of ownership Based on Equity

The issuance of Ijarah Sukuk on condition of ownership based on equity is one of the achievements of the capital market in recent years.These sukuk are important because their underlying assets are transparent and tradable in the market, and their price can be measured continuously. Therefore, sukukholders should be able to enjoy their most important property rights, namely the transfer of sukuk at the current price. but, what can be seen in the design and use of these sukuk is that not only is there no difference in the pricing and trade in process of these sukuk with ordinary Ijarah sukuk, but there are also jurisprudential and economic ambiguities in these sukuk that must be evaluated. Considering the fixed interest rate of Ijarah Sukuk based on equity and classifying benefits based on whether or not they are transferred to the lessee is one of the most important challenges of this type of Ijarah Sukuk.Therefore, considering the importance and position of this type of Ijarah Sukuk, this article presents the challenges and jurisprudential and economic evaluation of the issuance of these sukuk by using the library method and referring to similar studies. According to the evaluation, the interest rate of these sukuk is not fixed for different types of stocks, but it is necessary to determine it in proportion to the earnings of stocks. Dividends on leased shares are among the most important benefits transferred to the lessee, and the rest of the significant benefits, including dividends, remain with the lessor.