Dubai aims to become a top global centre for Islamic bonds by introducing more detailed standards that ensure issuance and trading obey not only the letter but also the spirit of Islamic rules, a securities market official said.
The emirate hopes the new standards will reduce disputes between scholars, issuers and investors over what types of debt structures are permissible and attract more business to its market. Mabid Ali Al-Jarhi, a member of the board overseeing Islamic business at Dubai Financial Market(DFM), said the rules would provide assurances for sukuk holders and traders…………………………………..Full Article: Source