The Philippine Securities and Exchange Commission, in partnership with the Asian Development Bank, has launched guidelines establishing a regulatory framework for Sukuk, giving companies a route to offer Shari’ah-compliant investment products in the Philippine capital market. The framework sets rules for registration, permissible structures, issuer reporting and disclosure. It allows issuances using Shari’ah-compliant structures and other structures approved by the commission, as well as the creation of special purpose entities for Sukuk transactions.