The Shariah Advisory Council of the Securities Commission Malaysia (the SAC) had, at its 174th meeting held on 30 July 2015, deliberated on a proposed issuance of a Sukuk Ijarah.

Resolution:

The SAC had resolved that it is permissible to use Mixed Asset as an underlying asset for Sukuk Ijarah provided that:

• The rentals received from the Shariah non-compliant businesses/activities in the Mixed Asset must be below 20% of the total rentals received, if such rentals could be determined; or
• The lettable area used for Shariah non-compliant businesses/activities in the Mixed Asset must be below 20% of the total lettable area, if the rentals could not be determined.

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