Project sukuk
An SPV holds the project assets and issues certificates whose distributions come from the assets' income.
Real economy
Energy and infrastructure projects
Long-lived assets, many parties and decades of payments.
Power, water and transport projects combine construction financing, long leases and capital-market funding. Sukuk backed by project assets connect investors to the asset's income. IslamicOpenFinance™ models the project's contracts, the sukuk and the distribution calendar together.
Financial products
What you build on IslamicOpenFinance™
Construction istisna
Plant construction is financed in stages against certified progress.
Forward lease
An ijarah on assets still under construction starts rentals when the asset is delivered, as the contract provides.
Distribution calendar
Record and payment dates roll to business days in the payment market, with holders notified.
Investor reporting
Asset performance and distributions are reported to certificate holders with the evidence behind them.
Value chain
The actors in this chain
IslamicOpenFinance™ connects them with one contract model, one policy and one evidence trail.
Project companyEPC contractorSPVArrangerTrusteeSukuk holdersOfftaker
Typical flow
A typical flow, step by step
- Project agreements
- SPV set up
- Asset transfer
- Sukuk issuance
- Construction
- Operation
- Periodic distributions
Live demo
See it in the terminal
Tilal Solar Company's sukuk (demo): SPV, asset transfer, book, allotment and a distribution rolled to the next business day. Demo data
DemoAll institutions, people, amounts and events are fictional demonstration data. Nothing here is a Shariah ruling, an offer or advice; approving a product is for each institution's own Shariah board and regulator.
Glossary