The Philippine Securities and Exchange Commission has issued guidelines establishing a regulatory framework for Sukuk issuances. The rules cover registration, permissible Shari’ah-compliant structures, reporting and disclosures, and require issuers to establish an independent Shari’ah committee or appoint a Shari’ah adviser to certify compliance. Sukuk offered to the public must be registered with the commission, although registration does not guarantee listing, trading or settlement. Issuers may include listed companies, non-listed stock corporations and qualifying special purpose entities. Certain government entities, central bank-supervised banks and related special purpose entities are exempt from registration under existing securities law. Every issuance must be supported by a trust deed, while publicly offered Sukuk must obtain a rating from an accredited domestic or international credit rating agency.
2026-03-02Philippine Securities and Exchange Commission
Philippine Securities and Exchange Commission issues Sukuk framework covering registration, disclosure and Shari’ah oversight
The Philippine Securities and Exchange Commission has established rules for Sukuk registration, structures, disclosures and Shari’ah oversight. Public offerings require registration, a trust deed and a credit rating, subject to specified exemptions for government-related entities and central bank-supervised banks.