Issues on laws for Islamic instruments in capital market. By: Dr Asmadi Mohamed Naim. Introduction. The Securities Commission is a statutory body set up under The Securities Commission Act 1993 (SCA), reporting directly to the Minister of Finance.
Dr Asmadi Mohamed Naim
The difference between two guideline is the first defines the Islamic instrument as a debt instrument while the later gives broad definition of Islamic securities including sukuk al-mudarabah/ musyarakah.
10. Mode of issue
11. Utilisation of proceeds.
12. Additional requirement for Islamic securities programmes
13. Disclose requirements to investors relating to Islamic Securities under principles of profit sharing (mudharabah)/ profit and loss sharing (Musyarakah).
14. Time frame for approval from the SC