The Obligor of the Bonds or Sukuk submitting a Listing Application shall meet the following conditions: 1. The issuer and the obligor - as applicable - shall be dully incorporated in accordance with the provisions stipulated in the laws of its country of incorporation and be operating in conformity with its Company Contract. 2. The issued capital of the Issuer shall be fully paid. 3. That a period of no less than three financial years have passed since the Obligor incorporation for which three audited financial statements have been issued prior to the submission of the Listing Application. 4. The Obligor shall have been practicing one or more of its main licensed activities for the last three financial years prior to the date of submitting the Listing Application. 5. To be able to demonstrate on its own or with its Subsidiaries its ability to meet the working capital requirements for the Issuer for the twelve months immediately following the Listing Application date. 6. The members of the senior management or the Obligor’s Members of a Board of Directors shall have sufficient expertise and experience for the management of its business. 7. Obtaining the written approval of the Authority and other Regulatory Bodies for issuance of Bonds or Sukuk for which listing is sought. 8. Appointment of a Listing Advisor. 9. Any other conditions or regulations stipulated by the Authority.