CmaBylaw
Executive Bylaws
3-4 Requirements Related to Bonds or Sukuk Of Module Twelve: Listing Rules
Section: Chapter Three: Listing Bonds and Sukuk
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Sunday, 12 February 2017
For listing Bonds and Sukuk the following conditions shall be met: 1. Bonds or Sukuk shall be duly issued in accordance with the provisions of the laws and regulations applicable to the Issuer and the Obligor and in conformity with their respective Company Contract. 2. Bonds or Sukuk shall be tradable and freely transferable with no restrictions concerning the transfer of the ownership between the traders of the Issuer or the Obligor or their respective countries of incorporation, and specifying such restrictions, if any. 3. The Sukuk shall be issued and approved for trading in accordance with the provisions of Islamic Sharia and approved by an External Sharia Auditing Office. 4. Forming a Bondholders Association or Sukukholders Association. 5. Obtaining a credit rating for the Bonds or Sukuk from a Credit Rating Agency registered by the Authority. 6. Any other conditions or regulations stipulated by the Authority.
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