DUBAI: The United Arab Emirates’ financial market regulator has set new rules for Islamic and corporate bonds to encourage trading in them, and amended rules on securities lending and borrowing to make it easier for foreign institutions to operate.
The changes are part of plans to introduce at least two new rules covering the stock exchanges every year, in an effort to have the Arab world’s second biggest economy upgraded to developed market status in 2018, said Abdullah Salem Al Turifi, chief executive of the Securities and Commodities Authority.
UAE equity markets are expected to see more participation by foreign investors after late May, when international index compiler MSCI will raise the country to emerging market from frontier market status. Reuters
