The new regulations issued by the UAE’s Securities and Commodities Authority (SCA) may help make the UAE a regional centre for issuing bonds and Islamic Sukuk by small companies, ratings agency Fitch said, adding that in the event that the UAE attracts more Emirati firms to the issuance market, then the new system is likely to attract issuing companies from Qatar, Oman, and Kuwait, which seek to diversify their financing portfolios.
According to Fitch, SCA’s new regulations seek to open the bonds and Sukuk markets to small companies by reducing the minimum issuance limit to AED 10 million ($2.7 million) down from AED 50 million.
According to Fitch, SCA’s new regulations seek to open the bonds and Sukuk markets to small companies by reducing the minimum issuance limit to AED 10 million ($2.7 million) down from AED 50 million.
Source:
Mubasher