Saudi Arabia is developing into a sophisticated financial center in the Middle East. As companies are increasingly active in the Kingdom and demand for Sharia’h-compliant financial instruments increases, the Kingdom can provide greater opportunities for business and investments. Latham’s Middle East lawyers provide key insights on recent regulatory developments and the intricacies of issuing Sharia’h-compliant sukuk.
Capital Market Authority Amends, Clarifies Listing Rules
Further to the continuous efforts of the Capital Market Authority (the CMA) in the Kingdom of Saudi Arabia to further enhance the regulatory framework for listing securities on the Saudi Stock Exchange, the Board of the CMA recently adopted new amendments to the Listing Rules pursuant to resolution Number (1-38-2016) dated 22/6/1437H (corresponding to 31 March 2016G). Read the full Client Alert for a general overview of the newly adopted amendments and their potential effect on current and upcoming public listings of companies in the Kingdom.
Saudi Arabia Issues New Regulations for Companies,
Altering Regulatory Landscape
Innovative changes address company and investor concerns as Saudi Arabia moves to modernize its corporate legal regime.
On 9 November 2015, the Council of Ministers of the Kingdom of Saudi Arabia approved the long-awaited new Regulations for Companies (the New Companies Regulations), which significantly updates the law applicable to corporations in the Kingdom. The New Companies Regulations replace the previous Regulations for Companies (the Old Companies Regulations), and were published in the Official Gazette (Umm Al Qura) on 4 December 2015. Read the full Client Alert.
The Sukuk Handbook: A Guide to Structuring Sukuk
- Executive Summary – A bite-sized overview of the key aspects of The Sukuk Handbook, our guide to structuring sukuk. Read.
- Full Guide – Discover how sukuk is rapidly developing into a modern financial instrument as it continues to expand into new markets. Read.