Regulatory Alerts2015-08-13
Added · Updated
Registration, Deposit, and Settlement of Sukuk Instructions
The Securities Depository Center establishes procedures for the registration, deposit, and settlement of Sukuk instruments, effective July 31, 2013. Issuers must submit registration applications within fifteen days of allocation completion and provide specific data regarding the Sukuk type, value, and ownership details. The Center maintains special registers for deposited Sukuk and their owners, while prohibiting the transfer or pledge of Sukuk that have not completed deposit procedures, with specific exemptions for inheritance, court rulings, and corporate acquisitions.
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Topics
islamic-finance
securities
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