A certificate is not tradable merely because it pays rent. Tradability depends on ownership of the underlying tangible asset.
If the certificate represents only rent receivables, it becomes a debt claim. That is a very different legal position from owning part of the leased asset itself.
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Ijarah Fund and Sukuk: Real Ownership Behind the Certificate
A certificate is not tradable merely because it pays rent. Tradability depends on ownership of the underlying tangible asset.
If the certificate represents only rent receivables, it becomes a debt claim. That is a very different legal position from owning part of the leased asset itself.