Regulatory Alerts2015-10-14
Instructions for the Issuance and Registration of Islamic Finance Sukuk, and their Supplement
The Board of Commissioners of the Jordan Securities Commission issued binding instructions governing the issuance, registration, and trading of Islamic finance Sukuk in Jordan. The framework mandates Sharia compliance through accredited advisors, requires issuers to prepare detailed prospectuses covering financial data, risk disclosures, and Central Sharia Supervisory Commission authorization, and establishes standardized subscription procedures through licensed banks. It further outlines investor protection mechanisms, including issuance trustees, redemption guarantees, periodic reporting, and clear allocation rules to ensure transparent capital market operations.
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