SCA to issue new regulations on bonds, sukuk | GulfNews.com:
The UAE’s capital markets regulator will issue new regulations on bonds, sukuk and securitisation in the first half of next year, Obaid Al Za’abi, chief executive officer of the Securities and Commodities Authority (SCA), said in Abu Dhabi on Monday.
“We will put solid requirements on sukuk issuance. Also the governance laws will be local laws. They should comply with the local laws, not the common English laws or the other foreign laws,” he said while speaking to reporters on the sidelines of an event organised by the SCA on Monday.
The authority also has submitted proposals to the competent authorities to scrap the maximum cap set for the sale of shares by shareholders when companies convert to joint-stock businesses.
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