Pakistani regulator approves standardized Shariah framework for sukuk issuance
The Securities & Exchange Commission of Pakistan (SECP) has greenlit an initiative aimed at standardizing the Shariah structure for the issuance of sukuk, a form of Islamic financial instrument.
The decision, approved by the Shariah Advisory Committee (SAC) of the SECP, brings clarity and consistency to the sukuk landscape.
The standardized framework, centered around the concept of Musharakah (Shirkat ul Aqd), encompasses a suite of comprehensive draft agreements, encompassing sukuk issuance and subscription, issue agency agreements, and Musharakah arrangements. It also aims to simplify the process of seeking approval for the issuance of Shariah-compliant securities, adhering to the Shariah Governance Regulations of 2018.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
