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Islamic Unit Trust (Micro-Saving)

  • Mohd Ma’Sum Billah
Chapter

Abstract

Unit Trust can be defined as a collective investment scheme, which obtained money from pooling the savings from various investors who, shares same financial objectives, investment strategy and risk. Next, these funds will be allocated in a diversified portfolio of authorized investments and managed by the professional managers. The Security Commission’s Guidelines on Unit Trust set out overall regulatory framework of the unit trust such as a ‘deed’ or an agreement that should be followed by the managers, unit holders and managers. In addition, example of the authorized investments allowed by the Security Commission includes approved stocks, bonds, commercial chapters, government securities, treasury bills, foreign securities, direct business ventures, unquoted securities and so forth.

References

  1. Chong, D. (2000). Unit Trust in Malaysia. Sage Information Services, Kuala Lumpur.Google Scholar
  2. Hasan, S. (n.d.). Encyclopedia of Islamic Banking. Institute of Islamic Banking & Insurance, London.Google Scholar
  3. Izazee, M. I. (2002, April). Islamic Private Debt Securities: Issues & Challenges. RAMFoces.Google Scholar
  4. Malaysia Unit Trust Directory. (2000). Permodalan Nasional Berhad, Kuala Lumpur.Google Scholar
  5. Prospectus of ASN 3 Imbang, 16 October 2001.Google Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Mohd Ma’Sum Billah
    • 1
  1. 1.Islamic Economics InstituteKing Abdulaziz UniversityJeddahSaudi Arabia

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