Sukuk in the Sultanate of Oman
2013 Oman Law Blog of Curtis, Mallet-Prevost, Colt & Mosle LLP
9 Pages Posted: 9 Jun 2013
Date Written: February 28, 2013
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: Suggested Citation