CmaBylaw
Executive Bylaws
11-5 Of Module Eleven: Dealing in Securities
Section: Chapter Eleven: Sukuk Regulations
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Tuesday, 14 February 2017
Sukuk offered for Public Offer shall meet the following conditions: 1. They shall not be redeemable before one year from their issue. 2. They produce periodical yields, whether such yields be fixed or variable. 3. They do not include any Financial Derivatives, such as swap deals or option contracts, excluding Sukuk convertible into Shares wherein the option right implied shall be subject to the discretion of the Bondholders and Shares subject to swap shall be listed on the Exchange.
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