 time once again for watching a video together. I must emphasize that this activity should not be taken lightly. There is huge amount of literature and a lot of resources available online. Of course in written form and in AV format as well. In pedagogical approaches in modern times AV is playing a very important role. Hence watching videos available online or offline it is a very good activity for learning. The videos which have academic content. I must say that this is a cultural change in learning and development. As a typical parent who happens to be a professor I would sometimes ask my son who is a university student. And the kid would say I actually learn a lot of things and this is reflected in my grade. And I must say that he is right. There is a lot of material available in your hands if you want to learn about anything you can use YouTube or there are some other videos available online which could be very useful. For our today's video we have chosen the topic of Sukku. We have covered the topic of Sukku in our modules. Hence it would be helpful for us to watch a video which is about one aspect of Sukku and Sukku Proctoring and Sukku Usage in Islamic Banking and Finance. So if you click on this link you will go to a video which is being presented by a very well known industry practitioner in Islamic Banking and Finance. Alright now we have watched this video which is quite interesting. The presenter is making a case which is very valid about Sukku. The presenter defines a Sukku Proctor and classifies it into an asset-based Sukku and an asset-backed Sukku. Asset-based Sukku is the one which does not allow the Sukku holders the investors to have recourse to the underlying asset of Sukku i.e. it doesn't allow the investors to get hold of the asset and sell it in case the obligor default. So this is an asset based Sukku. Asset-backed Sukku according to the presenter is the one which allows the Sukku holders investors to have full recourse to the asset in case there is a default by the obligor. Now from here there is an issue of a true sale or a non-true sale a fake sale. In case of asset-based Sukku many people say that because it doesn't offer full recourse to the asset to the investors this is not a true sale and the true sale happens only when there is full recourse to the asset given to the investor. This is a valid legal point. Sharia scholars however take a different view they say that whether according to law the sale has taken place or not this is a separate thing. From Sharia viewpoint whenever there is an acceptance and the documentation has taken place the seller has received the price and the buyer has given the price then the sale would happen whether this is recognized in law or not. Similarly in case of Sukku structuring whether the underlying asset has been registered with the land registry or not as long as the purchase price has been paid and the asset has been put into the SPV for the benefit of the Sukku holders sale would have taken place. So this is actually the difference between an asset back and asset-based Sukku. In Islamic finance circles there is an emphasis on having more of asset back Sukku i.e. a Sukku which gives full recourse to the investors in case there is a default. Obviously there is a disconnect between Sharia views and the legal stance on this issue. There is a need to come up with harmonization of Sharia views and legal implication.