The research aimed to demonstrate the concept of debt securitization, and the
difference between conventional securitization and Islamic securitization, and the
position of Islamic law of debt securitization. And there will be illustration of
econ
omic and accounting effects of applying it, and the relation between debt
securitization and occurrence of current international financial crisis.
The research concluded that Islamic law doesn't permit the monetary debt
securitization (conventional securitization), and it permits commodity debt
securitization within Islamic basis. And it demonstrated that conventional
securitization involved in burn of current international financial crisis.
