Regulatory Alerts2015-08-13
Added · Updated
Owners of Islamic Finance Sukuk Committee Instructions
The Instructions establish the formation, composition, and operational procedures for a Sukuk Owners’ Committee representing holders of Islamic finance sukuk. The Committee must consist of five elected members who meet specific eligibility criteria, including independence from the issuer and clean legal records. Issuers are required to convene the first owners’ meeting within one month of allocation to elect the Committee, which then assumes duties such as monitoring profit distributions, attending issuer meetings, and accessing project documents. The issuance trustee is also mandated to cooperate with the Committee and perform specific oversight tasks outlined in the prospectus.
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