Securitisation
The financial engineering process for the creation and issuance of Sukuk, where:
(a) Payment of face value and income is derived from the cash flows generated by the securitised assets, or by the pool of assets that underlie the issuance of the Sukuk; and
(b) Legal or beneficial ownership of the underlying assets is transferred to the investors in the form of Sukuk.
Added: January 2015