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SCA board approves regulations for sukuk and corporate bonds.

ABU DHABI: The board of directors of the Securities and Commodities Authority (SCA) has approved two new regulations - Regulation for Sukuk and Regulation for Corporate Bonds. The board also emended two other regulations to update them to match with latest developments in the financial markets and to the best international practices on the advanced markets of the world.

A specialized international consultancy firm was tasked with drafting the first draft of the two regulations. The draft was published on the SCA website to allow concerned parties to express their views and make the necessary inputs and to attract feedback, later the draft regulations were referred to the Financial Services Consultative Committee, which studied the inputs and the feedback to adopt those appropriate and suitable. Furthermore, a meeting was held with representatives of the UAE Central Bank to discuss their observations before the draft regulations were issued in their final shape.

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Publication:Gulf News (United Arab Emirates)
Date:Apr 27, 2014
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