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CMA presents draft Sukuk regulation for public consultation

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In continuation of the approach of community partnership, the Capital Market Authority invited all public joint-stock companies, audit firms, law firms, investors, academicians, interested persons, and the general public to provide their comments, observations, and input on the draft Sukuk and Bonds Regulation which is posted on the CMA’s website.

The draft regulation is a response to the rapid legislative developments in the capital market since the issuance of the Commercial Companies Law in 2019 and the Regulation for Public Joint Stock Companies early this year to enhance the readiness of the legislating regime to cope with the global economic developments and changes, further to standardization of the rules of Sukuk and bonds market to improve the efficiency of such debt instruments in moving the wheel of the national economy to contribute to furnishing appropriate credit environment to finance the development projects of the government and the private sector.

The draft regulation aims to regulate the issuance of bonds and Sukuk by adding a set of detailed clauses prepared by a specialized work team constituted by the CMA for more resilience to ease the processes of issuance of bonds and Sukuk as financing instruments.

CMA applies the public consultation approach to obtain the input of the stakeholders of the industry. Responses will be received on email for three weeks from July 7, 2021.

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