FSA Organizes an Introductory Meeting on Innovative Sukuk and Bonds in Green and Sustainable Financing for Employees of Securities Companies, Audit Firms and Legal Consultations Firms

The Financial Services Authority (FSA) will organize an introductory program on the national roadmap for aligning the non-financial banking sector with green and sustainable financing principles titled, Innovative Bonds and Sukuk.   The two-day program starts from June 25 to June 26, 2024.  On the first day, the program targets the FSA employees to enhance the internal communication by exchanging knowledge and highlighting new legislative projects.  As for the second day, the program targets representatives of the entities licensed by the FSA and issuing entities from public joint stock companies.

This program is part of the efforts made by the FSA in regards to raising awareness of the employees and entities involved in the application of the provisions of the Bond and Sukuk Regulation issued by decision no. (E/21/2024).  This regulation regulates long-term debt instruments as one of the financing options offered by the Omani Capital Market to meet the financing needs like expansion of projects or realizing new investment initiatives led by the private sector.

The program title, innovative sukuk and bonds, indicates the resilience of the regulation and its support for innovation since the financing products covered in the regulation are diverse in terms of type and purpose.  Such products include green and sustainable bonds and sukuk and Waqf Sukuk.  The regulation encourages innovative and diversified financing products in accordance with the nature of financing needs of the investor and the issuer.

The program will give an overview of the national roadmap approved by the FSA Board of Directors and present the executive plan and the upcoming phases.  It will also focus on green and sustainable bonds and sukuk and disclosure controls.