Listed under Exempt Regime: Overview
In an effort to promote the fixed-income markets whilst enhancing the breadth
and depth of investment options in Malaysian capital market, Bursa Malaysia
offers a listing platform for sukuk and debt securities called Exempt Regime.
Exempt Regime was introduced in December 2008. This is the collective initiative
by various Malaysian regulators and the government. The initiative also aims
to develop Malaysia as a hub of Islamic financial centre under the umbrella
of the Malaysian International Islamic Financial Centre (“MIFC”).
Hence the Listing Requirements (“LR”) was enhanced to introduce
a framework for the listing of sukuk and debt securities on the Exchange.
What is Exempt Regime?
Under the “Exempt Regime”, sukuk or debt securities are listed on
the Main Market but will not be quoted and traded on the Exchange. It is a shelf-lifting
platform for visibility and profiling purposes. The trading shall occur on Over-the-Counter
Who can list?
Previously, only issuers who are listed on the Official List of Bursa Malaysia
Securities Berhad may apply to list its debt securities on the Exchange. Now,
listed and non-listed issuers may apply to list their sukuk and/or debt securities
on the Exchange. They shall be subject to eligibility requirements by the SC.
The platform provides an avenue for issuers who intend to acquire listing status
for their issuances. The listed sukuk and debt securities shall have higher visibility
and transparency with disclosure of information being made to the Exchange and
the public. The listing could also be useful for profiling of the issuers. Hence,
this will attract investment from a wider segment of institutional and high net
Listing under Exempt Regime
Listing under Exempt Regime
|Type of issuer
||Listed and non-listed issuers
|Type of issuance
||All types of issuances
||Issuance with more than 1 year of tenure
||RM and Non-RM Sukuk and/or debt securities
- Fast approval process
- Simple and clear listing requirements
- Bursa is the recognised Shari’ah compliant investment avenue
- Automatic cross border listing capabilities
- Initial Listing fee: RM3,000
- Annual Listing fee: RM2,000
- Issuance: Securities Commission Malaysia
- Listing: Bursa Malaysia
- Chapter 4B of the Bursa Malaysia Listing Requirement
- Part B Practice Note 26-A (PN26-A)
When to list?
An issuer may submit an application pre or post issuance. For pre issuance submission,
an issuer may submit its listing application to the Exchange at the same time
it submits its application for approval to the Securities Commission. However,
the Exchange’s approval for listing, if granted, will be conditional upon
to the Securities Commission’s approval being granted.
Full list of Exempt Regime sukuk/bonds
Please click here
for full list of sukuk/bonds listed under Exempt Regime.