Sharia compliant performance linked note
US7797225B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 6, 2007 |
| Grant date | Sep 14, 2010 |
| Priority date | — |
| Expiry date | Dec 28, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Embodiments of systems and methods relate to the issuing, servicing, and redeeming of investment notes that are linked to the performance of a single commodity or basket of commodities and are compliant with and tradable under Sharia principles. An exemplary method for administering an investment note compliant with Sharia principles involves establishing an agency contract between an agent and a trustee wherein the agent acts on behalf of the trustee and the trustee acts on behalf of the investor, establishing a unilateral purchase agreement between the agent and the issuer under which the issuer promises to buy commodities from the agent, and purchasing, by the agent, a commodity such that the agent holds title to the commodity on behalf of the trustee.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.