Wakala Sukuk, A Financing Instrument With Reducing Risk Approach Safaei Mohamada, Samiminejad Royab, Vahed Meysam Fadaeic aM.A. Student, Financial Management, Imam Sadegh (AS) University, Tehran, Islamic republic of Iran bM.A. student, Financial Management, Tehran University, Tehran, Islamic republic of Iran cDoctor Student, Financial Managemen, Allame University, Tehran, Islamic republic of Iran Online published on 6 August, 2015. Abstract Finance has been always a major concern for managers of companies in implementation of different projects. Considering the growing need of the country for financial instruments conform to the holy Sharia of Islam on the one hand, and the need of financial managers for greater authority regarding the choice of short- and long-term investment opportunities using these instruments and forming a portfolio to reduce non-systematic risk on the other hand, necessitate more than ever the invention and introduction of a new financing instrument with different advantages, including no limitation in investment, relative to other financing instruments, such as istisna sukuk, ijarah sukuk, and musharakah sukuk. To this effect, a financing instrument based on power of attorney, the attorney sukuk, is designed and discussed in the current paper. This sukuk, which is a new instrument in the field of finance, gives financial managers relatively more options and actually enhances their ability to manage and reduce firm risk. Top Keywords Wakala sukuk, diversification, systematic risk, unique risk, portfolio, regulation, attorney. Top |