The Capital Market Authority (CMA) has completed the initial draft of the regulatory bylaw of the Islamic Sukuk. CMA started getting feedbacks from the respective stakeholders at the public sector, companies operating in stocks, audit office, legal consultancy firms, experts, academics and public on the provision of the draft regulations, which were drafted by CMA after His Majesty Sultan Qaboos Bin Said issued his Royal Directives, which allow the introduction of Islamic banking in the Omani banking sector.
The regulatory bylaw was issued after CMA had studied the legislative, audit and procedural areas related to financial tools that are in line with the sharia rules………………………………………..Full Article: Source