Oman’s corporate sector is expected to come out with sukuk or Islamic bond issues to meet their funding requirements, once the market watchdog Capital Market Authority (CMA) issues regulations.
Sukuks, which are Sharia-compliant debt instruments backed by assets, are popular instruments for mopping up funds from the market in the Gulf region.
“With the government allowing Islamic banking activity in the country, I think the sukuk issue also will be floated in the country soon,” Ahmed bin Saleh Al Marhoon, director-general of the Muscat Securities Market (MSM) told ‘Times of Oman’, on the sidelines of Second Oman Capital Market Forum here yesterday. CMA will come out with certain regulations for issuing sukuks, he added.
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