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Friday March 30th, 2018

Capital Market Law March 2018 Amendment: New Regulation of Sukuks, Futures Market, and Various Other Changes

In March 2018, the Capital Market Law was amended by Law No. 17 of 2018, which introduced the biggest changes to the Capital Market Law since its enactment in 1992. The amendment addresses several vital topics, including a complete new regulation of Islamic bonds “sukuks”, an already thriving Islamic finance product, and the introduction of regulation for futures market for the first time. It also established a federation for securities companies, and introduced several amendments to the provisions covering the issuance and offering of securities, investment funds, governance, and the protection of minority shareholder rights. The amendment also hardened the penalties for the violation of the law. For a detailed review of the Capital Market Law amendment, please visit this link.

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