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.
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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