BANGKOK (Dow Jones)--The Thai cabinet Tuesday approved in principle a draft ministerial regulation to allow the issuance of Islamic bonds in Thailand.
The current Securities Act doesnt cover the securities business that involves Islamic bonds, or so-called sukuk.
The amendment will expand the boundary of securities transactions to allow brokeraging, trading and arranging the issuance of sukuk, the cabinet said in a statement, adding that the additional investment option will be positive for the development of the capital market.
The draft will be passed to the Council of State as part of the process to be legally announced. omar1.1 iimm.bnm.gov.my