Jurisprudential and Legal Natire of Mudaraba Sukuks

One of the instruments which can be designed based on original Islamic contracts is Mudaraba Sukuk. As a basis for issuance of Mudaraba Sukuks and legal concepts and relations between elements of the said securities, Mudaraba contract has given it a particular legal discipline and has created a legal system with special features from it. The existing relations in the process of issuance and execution of Mudaraba papers are based on these legal natures and general legal principles. Due to this very fact, a legal analysis of these papers is a necessity. The current research which is based on the descriptive-analytic method, works on the primary question that from legal aspect, what does the analysis of nature of mechanism and relations existing in execution models of Mudaraba Sukuk’s issuance, say? The results achieved by researches show that the process of issuance of the said securities, from jurisprudential and legal aspect, is not defective at all and its executive mechanism can be organized from the aspect of legal mutual relations. In order to make them executable the legal performance guarantee and compulsion to perform the promises between two parties, can be brought in play through the use of legal rules and principles.