It is valid to trade investment Sukuk which are used to finance projects so long as they represent tangible assets or usufructs as is the case with Mudaraba, Musharaka and investment Wakala Sukuk. This is because it is valid to sell the underlying assets of these Sukuk on any agreed price, spot or deferred, whereas the finance Sukuk, such as Murabaha and Istisna' Sukuk, and since they represent debt instruments and are normally of short maturity periods, these can be traded only at face-value and against a spot price.
The Maliki school, however, unlike the remaining Fiqh schools, allows upon the fulfillment of certain conditions the sale of the Salam asset before its delivery. Nevertheless, the Salam Sukuk holders or their representative still can sell, to a third-party through a parallel Salam, an asset similar in its specifications to the Salam asset. The delivery date in this case shall be later than the delivery date of the original Salam asset.