IslamicFinance.de

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.

The Bahrain Financial Exchange (BFX) has employed the consultancy services of the SHAPE™ Financial Corp. SHAPE is a leading specialist in the formation of solutions for Islamic finance markets and will assist the BFX in the development of Sharia compliant Islamic finance products for listing on the Exchange. The initial work will be conducted across Islamic capital markets, Sukuks, REITs, ETFs and Murabaha sectors.