DFM finalises sukuk issuance Standards

The Dubai Financial Market has finalised comprehensive standards to be established for the issuance of sukuk, or Shariah-compliant debt, said a top Islamic scholar.

The standards are ready and will be announced within two weeks after they are approved by the authorities, Dr Hussain Hamid Hassan, Chairman of the Shariah board of the Dubai Financial Market (DFM), the first and the only Shariah-compliant stock market in the world, told Emirates Business.

The principles will not only cover the issuance of sukuk but will address the areas relating to listing, trading on secondary markets and market making for these instruments. The establishment of standards is expected to help create a vibrant retail market for sukuk in this part of the world.