SECURITIES AND EXCHANGE COMMISSION OF SRI LANKA

6th March 2026 Ref: SEC/DDG/2026/03/59

TO: ACCREDITED SHARIAH SCHOLARS

DIRECTIVE ISSUED IN TERMS OF SECTION 16(d) OF THE SECURITIES AND EXCHANGE COMMISSION OF SRI LANKA ACT NO. 19 OF 2021 (SEC ACT)

The Securities and Exchange Commission of Sri Lanka (SEC) at the 528th Commission Meeting held on 13th January 2026, resolved to revise the Guidelines applicable for Accredited Shariah Scholars recognized as “Supplementary Service Providers” under the SEC Act No. 19 of 2021.

Accordingly, the said Guidelines are revised as follows:

i. the number of Shariah Scholars required to sign off on the Shariah compliance of Shariah Compliant Debt Securities such as Sukuk prior to listing at the CSE and for Whitelist Equity Indices prior to publishing of the said Index

ii. the qualifications and experience of Accredited Shariah Scholars

The revised Guidelines are enclosed hereto and are also published on the SEC website.

Tushara Jayaratne
OFFICER IN CHARGE
DEPUTY DIRECTOR GENERAL

Encl: Revised Guidelines applicable for Accredited Shariah Scholars of the SEC

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