The special purpose facility

Author: Othman bin Zahir Binding: Cardboard Parts: One Paper: Shamooh Size: 17×24 Overview: The book discusses a legal establishment considered one of the most important banking practices recently widespread, related to financing and investment products and others. The importance of this type of establishment generally stems from several reasons, including: protection from bankruptcy, protection from creditors, securitization purposes, and it is also used to bypass regulatory requirements. It has other benefits specific to Islamic banks, which the researcher detailed in their appropriate section. The researcher also explained the reasons behind establishing this type of establishment, the most famous of which are: tax evasion, performing activities by companies that do not wish to participate fully, and sometimes circumventing Sharia. The researcher classified the special-purpose establishment based on several considerations, regarding its purpose of creation, ownership, activity, and legal form. When discussing the Islamic rulings related to this establishment, he mentioned both the consensus and the differences, providing evidence and preference, with a clarification of the disputed point. He also did not neglect to mention the most important Shariah controls for establishing the special-purpose establishment in its various forms, and concluded the research with various applications of this establishment.