Sukuk in the Sultanate of Oman

2013 Oman Law Blog of Curtis, Mallet-Prevost, Colt & Mosle LLP

9 Pages Posted: 9 Jun 2013

See all articles by Michael J. T. McMillen

Michael J. T. McMillen

Curtis, Mallet-Prevost, Colt & Mosle LLP; University of Pennsylvania Law School

Date Written: February 28, 2013

Abstract

This article provides an introduction to the discussion of sukuk as framed by the Draft Sukuk Regulations of the Capital Markets Authority of the Sultanate of Oman and the Islamic Banking Framework issued by the Central Bank of Oman. Sukuk are asset securitizations and whole business securitizations (and are commonly referred to as "Islamic bonds", although they are not bonds).

Topics considered include: capital adequacy considerations under the Islamic Banking Framework; Shari'ah board requirements; issuer and obligor requirements and permissible activities; mandatory and permissible structural elements of sukuk, financial trusts and related considerations; and general assembly, sukuk agent and other corporate governance considerations.

Keywords: Islamic finance, Islamic banking, capital markets, sukuk, bonds, securitizations, corporate governance, Shari'ah, Oman

JEL Classification: E40, E42, E44, E58, F00, F02, F30, F39, G00, G10, G15, G18, G20, G21, G24, G28

Suggested Citation

McMillen, Michael J. T., Sukuk in the Sultanate of Oman (February 28, 2013). 2013 Oman Law Blog of Curtis, Mallet-Prevost, Colt & Mosle LLP, Available at SSRN: https://ssrn.com/abstract=2276270

Michael J. T. McMillen (Contact Author)

Curtis, Mallet-Prevost, Colt & Mosle LLP ( email )

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University of Pennsylvania Law School ( email )

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