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Securities Exchange Commission of Pakistan is easing Sukuk rules as part of a measure to facilitate Islamic finance to develop the Shari'a compliant market.
The Securities and Exchange Commission of Pakistan (SECP) announced that it was relaxing regulations for Sukuk issuance in order to develop the Shariah-compliant market.
The regulatory body believed that it would cut the cost of Sukuk issue and provide incentives to investors.
The SECP has invited public opinion on the proposed amendments before their finalization.
The SECP has also advised the PSX to come up with proposals for reducing the cost of market-maker for Sukuk issuance, rationalizing the minimum size of public offer portion to reduce the cost of issue and organizing a seminar with potential issuers to widen awareness.
“These measures shall further facilitate the issuers, reduce their cost and hassle,” the SECP said. “In Pakistan, the Sukuk market has been performing below potential. While the demand is substantial, supply remains short.”
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