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.
Philippine Securities and Exchange Commission launches regulatory framework for Sukuk issuance and disclosure
The Philippine Securities and Exchange Commission has launched a framework for issuing Sukuk, expanding the route for companies to offer Shari’ah-compliant investment products. The guidelines cover registration, permissible structures, special purpose entities, and issuer reporting and disclosure.