Title: Press Release: Amendment to Some Articles of the Executive Bylaws of Law No. 7 of 2010 For the Development of the Provisions Related to the Regulation and Issuance of Sukuk

Kuwait, 22 December 2024 –As part of the continuous efforts for enhancing the regulatory framework of Islamic financial industry and achieving compliance with the best international practices and Sharia standards, and based on the vision of the Capital Markets Authority (CMA) that aims to develop the legislative and regulatory environment, these amendments enhance the structure of the issuance and management of Sukuk to be in line with the CMA’s strategic objectives that seek the development of the Islamic financial industry in Kuwait in accordance with the international standards and ensure protection of all traders.

These amendments aim to ensure full compliance with the Islamic Sharia Standards and enhance transparency and fairness in the processes of Sukuk’ issuance and management, which contribute to enhancing confidence in the financial market and enabling it to keep pace with the international developments.

Sukuk are considered one of the most prominent innovative financial instruments that combine compliance with the Islamic Sharia Standards with the ability to meet the contemporary financing needs. In light of the accelerating global economic challenges, Sukuk have become effective solutions for collecting financial resources while complying with the Islamic Sharia Standards, which grants the investors the opportunity to participate in funding essential development projects in a legal and sustainable form.

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Notes to Editors:
The Capital Markets Authority was established pursuant to Law No. 7/2010, approved by the Kuwaiti Parliament in February 2010. Pursuant to the Law, the CMA shall regulate and supervise the securities activities, achieve transparency and fairness, observe listed companies’ execution of Corporate Governance regulations, and protect investors from unfair practices which violate the CMA's Law.
Furthermore, the Law's provisions stipulate the supervision of mergers, acquisitions, and disclosure operations. The CMA also aims to provide awareness programs related to securities activities.
For further information, please contact:
Public Relations & Media Office
Tel: 1888898
Email: pr-media@cma.gov.kw