Regulatory Alerts2015-08-13
Added · Updated
Jordan Securities Commission Islamic Finance Sukuk Contract Regulation No. 45 of 2014
The Jordan Securities Commission issued Regulation No. 45 of 2014 to implement Article 8 of the Islamic Finance Sukuk Law by defining permissible sukuk contract structures and trading rules. The regulation classifies eight specific contract types, including Ijara, Mudaraba, and Murabaha, while mandating that sukuk be backed by assets rather than debt to ensure Sharia compliance. It further establishes strict prohibitions against guaranteed profits in prospectuses and outlines issuer obligations regarding profit distribution, redemption, and risk mitigation funds.
Topics
islamic-finance
securities
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