he structure of Asset-backed Sukuk where these are based on various elements including: 1. Sukukholders’ right of recourse (directly or indirectly) on the Sukuk assets, as the case may be; 2. the Sukuk Assets are ring-fenced and securitised in a manner which protects them from claims from other creditors; 3. Sukukholders’ reliance on the assets of those Sukuk as the principal source for servicing periodic distributions and redemption; 4. Sukukholders bearing the risk of losses in the value of the Sukuk assets.