Omani real estate firm Tilal Development Company has persistently been asking the Capital Market Authority (CMA) for approval to raise funds by issuing a sukuk. According to Abdullah bin Salem Al Salmi – executive president of CMA – as soon as Tilal a…
Tilal Development Company turns to Capital Market Authority (CMA) for raising funds by the country’s first sukuk issue. According to Abdullah bin Salem Al Salmi, executive president of CMA, they are ready to grant Tilal their approval as soon as the la…
The move to stipulate a minimum RO10 million capital for takaful firms aroused serious concern among Oman insurance companies. Reason therefore is that such a move will most probably pose a major entry barrier for local companies. That is why insurance…
After Capital Market Authority (CMA) has approved of the prospectus for Alizz islamic bank’s shares offering, the bank has set the launch date of its initial public offering (IPO) on September 22. The IPO consists of 400mn shares. Expextations are that…
Capital Market Authority (CMA) of Saudi Arabia issued a strongly worded warning towards companies that operate without a license, thus surprising many people in the Gulf region. In the warning notice CMA states that non-licensed operations will be sanc…
UK-based law consultancy company Clifford Chance has prepared and handed over the draft law for forming Sharia-compliant takaful insurance firms and sukuk debt instruments. While a new set of law will serve as the rules takaful insurance companies, ame…
Oman’s Capital Market Authority (CMA) has disclosed to The Times of Oman that it will favour standalone Takaful companies, which is against the window operations proposed for conventional banks.
Abdullah bin Salem al Salmi, Acting Executive President…
Saudi Arabia’s central bank will have a bigger role in the supervision of the country’s financial sector as the kingdom weighs opening up its stock market to direct investments by foreigners.
The country’s Capital Market Authority (CMA) signed a cooper…
Capital Market Authority (CMA) is developing a separate set of regulations for Sharia-compliant takaful insurance and Sukuk debt instruments.
Abdulla bin Salem Al Salmi, Acting Executive President of CMA, stated that the new regulations will be ready b…
Sabic intends to purchase the assets of its first Sukuk amounting to SR3bn which was launched in July 2006. The Capital Market Authority (CMA) announced on June 12, 2011 its approval for Saudi International Petrochemical Company (Sipchem) to issue its …
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