AAOIFI's Shari'a Board Resolutions on Sukuk-English version

The Shari'ah Board of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), in view of the increased use of Sukuk worldwide, the public interest in them, and the observations and questions raised about them, analyzed the subject of the issuance of Sukuk in three sessions.
The results were the following:
1. Sukuk, to be tradable, must be owned by Sukuk holders, with all rights and obligations of ownership, in real assets, whether tangible, usufructs or services, capable of being owned and sold legally as well as in accordance with the rules of Shari'ah.
2. Sukuk, to be tradable, must not symbolize receivables or debts, except in the case of a trading or financial entity selling all its assets, or a portfolio with a standing financial obligation, in which some debts, incidental to physical assets or usufruct, were included unintentionally.
3. It is not permissible for the Manager of Sukuk to undertake to offer loans to Sukuk holders, when actual earnings fall short of expected earnings.