Murabaha Sukukun operation is as follows: Murabaha Sukukta is usually signed with the source organization (Customer) with the source organization that wants to buy a SPV and buying goods. All conditions of the Murabaha agreement containing the Refund Period, Payment (installment), cost plus Snow (Markup), all the conditions of the Murabaha agreement are determined in advance. Later by SPV is exported by Sukuk and the SPV is acting as an agent of investors, uses funds. Thus, SPV purchases the product in cash and sells this product by adding a specific profit to the source organization. If the product obtained from this sales (income) is paid as a profit share to the investor. This snow share is not an interest obtained as a result of lending, is a profit obtained by the reason for selling its product; Therefore, it is suitable for Shari Law (Lackmann, 2015: 8). 3.5.
Bai Salam, Al-Salam and Bai Al-Salam also referred to as the salami agreement, which includes the payment in advance for the assets that one side will receive in an advanced term on the other side (Nation, 2013: 303). The purchase price of the asset is called Salam Capital and is paid when the Salam Convention is signed. Salam International Congress on Islamic Economics and Finance, 21-23 October 2015, Sakarya / Turkey
The goods sold with the contract and the goods to be delivered in the future is called Al-Meslam Fihi (DIFC, 2009: 34). Salam Sukukta is the seller of salami goods, exporting certificate; Sukuk Humils are the recipients of these goods. In the Salam Convention, the goods are not present in the sales stage and therefore, the sale is called “Exceptional Selling.” Salam Sukuk Certificate Humils are the owners of the goods and they are eligible to receive share from the goods sold from the goods sold (Shaikh and Saeed, 2010). Salam Sukukun operation is as follows: Firstly a SPV is installed. SPV exports the lapholds that expressed the univified partnership share on salami assets to the source organization and the payment (principal) of the payment (principal) obtained from the End of Periodic Pay from SPV. The investor is found in the subsidiary commitment and transfers the source to SPV. SPV declares a Trust (proxy) on the resources (and assets) obtained from investors, and therefore acts as Trustee (Proxy) for the benefit of investors. SPV, by making purchases and selling and selling contracts with the source organization, the existence of salami is under the source organization, SPV also falls below the payment and receiving the future term. The SPV resource makes the payment in advance. The source organization delivers a portion of the existence of Salam before periodic payment periods to SPV. Then, the resource organization purchases the existence from SPV at a previously understood price. SPV also transfers the return to the Sukuk investor as periodic payment. . As a result of the agreement contract, in case of a default or in the term or in terms of optional recall, resource organization must deliver the existence of salami. SPV sells the existence of Salam to the source organization, the resource organization receives this presence from a specific (Exercise Price) price. SPV transmits the return to Sukuk investors (DIFC, 2009: 36) .U 3.6. Wakala Sukuk Wakala is the name of the agreement to the contract that one sides to move on the other side of its own.