Corporate Bond/Sukuk Regulations

The following are laws and regulations relating to bond and sukuk issuance in the GCC states and Egypt.

GCMA has compiled these documents from official, public sources.  These documents are meant to be used as a source of general information and should not be construed as authoritative.  All such information is subject to change.  GCMA and its members disclaim any responsibility for the accuracy of the information, any duty to update this information, any reliance which may be made on this information and any liability arising directly or indirectly from it. The following links are available as down-loadable PDF files.

Arab Republic of Egypt

Capital Market Law Amendments – Arabic
FRA Accounting for Sukuk – Arabic
FRA Executive Regulations – Arabic
FRA Requirements for Establishing SPV – Arabic
FRA Requirements for Issuance of Sukuk – Arabic
FRA Sharia Board – Arabic

Kingdom of Bahrain

Commercial Companies Law 2001 Decree 21
Decree no. (50) of 2014 amending certain provisions of the CCL
Decree no. (28) of 2015 amending certain provisions of the CCL – Arabic
Decree no. (53) of 2018 amending certain provisions of the CCL
Decree no. (1) of 2018 amending certain provisions of the CCL – Arabic
CBB and Financial Institutions Law
CBB Offering of Securities Module July 2018
CBB Resolution No. (17) of 2012 on Listing and Trading of Securities and Financial Instruments on CBB Licensed Exchanges
Bahrain Bourse Listing Rules

Kingdom of Saudi Arabia

CMA Rules on Offer of Securities
Tadawul Listing Rules

State of Kuwait

CMA Module 11
CMA Module 12

Sultanate of Oman

Capital Market Law – Arabic
Commercial Companies Law
Commercial Companies Law – 2015

United Arab Emirates

SCA Decision No3 of 2000 Concerning Regulations on Disclosure and Transparency
SCA Decision No3 of 2001 Concerning Regulations on Functioning of the Market
SCA Decision No12 of 2000 Concerning Regulations on Listing of Securities and Commodities
SCA Decision No16 of 2014 Concerning the Regulation of Sukuk
SCA Decision No17 of 2014 Concerning the Regulation of Debt Securities
SCA Decision No20 R.M of 2018 Concerning the Issuing and Offering of Islamic Securities 
DFSA Markets Law
DFSA Markets Rules
DFSA Brief – Listing Debt in DIFC
Nasdaq Dubai – Rulebook 3 V1.2 for Admission and Disclosure Standards for Issuers