KUALA LUMPUR, Dec 4 (Bernama) -- Bursa Malaysia introduced new rules under the Listing Requirements for the listing of Islamic securities or sukuk, and debt securities on the Exchange.
Under the new framework, sukuk or debt securities denominated in ringgit and foreign currencies issued by local and international listed and non-listed entities will be allowed to be listed on the Exchange.
The requirements under the framework are also comparable with practices in other exchanges that provide similar listing facilities, and applications for listing will be approved within one day by the Exchange.
Bursa Malaysia Bhd's Chief Executive Officer, Datuk Yusli Mohamed Yusoff said in a statement that the listing of these instruments, both sukuk and debt securities, would enhance transparency for investors and offer valuable profiling opportunities for issuers of the instruments.
The move also illustrates Bursa Malaysia's commitment to further position the Malaysian Islamic capital market as a premier Islamic investment hub in tandem with the Malaysia International Islamic Financial Centre (MIFC)'s initiatives to push the country's Islamic capital market standing on the global map.
To encourage issuers to list such instruments on the Exchange, listing fees for sukuk or debt securities listed under this framework before 2010 will be waived.
-- BERNAMA
