E-Media: Riyadh - The Capital Market Authority (CMA) announced yesterday that it would set up a market for debt securities including sukuks as part of its efforts to boost the Kingdom’s financial markets. The stock market regulator said it would permit the formal issuance, trading, clearance and registration on the Tadawul exchange, which currently lists two debt issues traded over the counter, Saudi Press Agency reported. The Saudi stock exchange – Tadawul – would be responsible for the details of setting up the market and when it would be ready for launch. No target date was given. Industry officials cheered the measure, saying it would strengthen the Kingdom’s capital markets, especially in sukuk debt, which are instruments compliant with Shariah regulations.
Last Modified Date: 10/02/2013 - 4:46 PM Saudi Arabia Time
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