The Capital Market Authority (CMA), which is now seeking feedback on its draft sukuk regulation, said that a joint stock company or a special purpose vehicle (SPV) can float Islamic debt instrument or sukuk.
The draft regulation made it clear that the SPV will not be subject to taxation. “This has alleviated a major misconception in the market,” said Khalid Yousaf, Director-Islamic Finance Advisory Services, KPMG in Oman………………………………………..Full Article: Source