CMA presents draft sukuk and bonds regulation for public consultation
The Capital Market Authority (CMA) has invited all public joint stock companies, audit firms, law firms, investors, academicians, interested persons and the general public to provide their comments, observations and inputs on the draft sukuk and bonds regulation which is posted on the CMA’s website.
In a press statement, the CMA said that the draft regulation is a response to the rapid legislative developments in the sultanate's 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 readiness of the legislating regime to cope with the global economic developments and changes.
The draft sukuk and bonds regulation, as per the CMA, will help to standardise the rules of sukuk and bonds market and improve the efficiency of such debt instruments to contribute to the national economy.
The draft regulation aims to regulate the issuance of bonds and sukuk by adding a set of detailed clauses. The clauses are prepared by a specialised work team constituted by the CMA for more resilience to ease the processes of issuance of bonds and Sukuk as financing instruments.
The CMA applies the public consultation approach to obtain the input of the stakeholders of the industry. Responses to the draft regulation will be received on email [email protected] for three weeks starting from July 7, 2021.