New draft regulations for the issuance of sukuk - the Islamic equivalent of bonds - have been finalised by the Capital Market Authority (CMA) ahead of their proposed publication for public consultation, it is learnt.
According to an expert familiar with preparations for the imminent promulgation of a legal framework for the introduction of Islamic Banking services in the Sultanate, the sukuk draft regulations are expected to be posted on the website of the CMA for public consultation. After weighing feedback from the industry, as well as the general public, the regulations will be enacted into law via a Royal Decree, said Khalid Yousaf, Director - Islamic Finance Advisory Services, KPMG Oman………………………………………..Full Article: Source