Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2005-11-10
2010-06-22
Campen, Kelly (Department: 3691)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S037000, C705S035000
Reexamination Certificate
active
07742964
ABSTRACT:
A convertible financial instrument for raising capital by an issuing business in compliance with Sharia principles includes a sukuk portion and a conversion portion. The sukuk portion represents a non equity ownership interest in the business. The sukuk portion includes a coupon return paid from at least one of profits and capital gains of the business. The sukuk portion is redeemable at a maturity date at a face value of the sukuk portion. The conversion portion is exercisable upon reaching a conversion date. The conversion portion is exercisable to convert the sukuk portion based on a predetermined formula into a converted financial instrument representing an equity ownership interest in the business. The predetermined formula does not include a conventional premium formula that is based on a time value of money and an interest rate since such a conventional premium formula does not comply with Sharia principles.
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Al-Saleh Mustafa E.
Armstrong Teasdale LLP
Campen Kelly
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