Kuwait and Saudi need to improve Sukuk regulation, expert says
A lack of legislation is seriously hampering domestic issues of Sukuk in Kuwait, forcing companies to go abroad, Abdulkader Thomas, president of consultancy Shape Financial Corp said to Ulf Laessing and Raissa Kasolowsky published on Reuters. A ministerial decree allowing sukuk issued in 2007 was not adequate for the market to flourish, Thomas said. Saudi Arabia would also have to overhaul its legislation for its sukuk market to function more effectively.
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