Regulatory Alerts2017-08-22
Added · Updated
Sukuk (Privately Placed) Regulations, 2017
The Securities and Exchange Commission of Pakistan establishes regulations for the private placement of Sukuk to Qualified Institutional Buyers, requiring issuers to appoint an Investment Agent and engage a Shariah Advisor prior to issuance. Issuers must prepare an information memorandum for Qualified Institutional Buyers, ensure proceeds are utilized for Shariah-compliant purposes, and report the issue to the Commission within fifteen days of issuance. The regulations repeal the Issue of Sukuk Regulations, 2015, while preserving rights and obligations for Sukuk issued under the previous framework.
Topics
islamic-finance
securities
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