Fsdp Quarterly Newsletter Q2 2025 · Page 6

 
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The Capital Market Authority Calls for Public 
Consultation on Draft Regulatory Frameworks and 
Introducing a New Investment Product 
The Capital Market Authority (“CMA") called upon 
relevant and interested persons participating in the 
capital market to share their feedback for Public 
Consultation on several projects, as follows, for a period 
of thirty (30) days: 
- 
“Introducing a New Investment Product in the 
Parallel Market” to encourage private sector 
companies to list on the Parallel Market through 
SPACs, which contributes to meeting the financing 
needs of the economy and supports the growth and 
depth of the capital market by introducing a 
diversified range of investment products. 
- 
“Regulatory Framework for the Offering and Listing 
of Different Classes of Shares” to develop the 
regulatory framework, including the enhancement of 
disclosure requirements related to various types and 
classes of shares. It also includes regulating 
disclosure requirements for redeemable shares and 
disclosures related to the conversion of shares from 
one type or class to another. This is intended to 
facilitate the financing of such companies through 
the capital market, contribute to meeting the 
financing needs of companies and the economy, and 
provide a broader range of investment options for 
investors. 
The CMA emphasized that the comments of relevant and 
interested persons shall be taken into full consideration 
for the purpose of approving the final Proposed 
Amendments, which in turn shall contribute to the aim of 
enhancing and developing the regulatory environment. 
CMA implements GCC investment funds passporting 
regime 
The Capital Market Authority (CMA) has adopted the 
Cross-border Registration Regulation for Investment 
Funds, commonly referred to as the GCC Funds 
Passporting Regime, effective since the beginning of 
2025. This unified regulatory framework governs a set of 
rules and controls that standardize the registration and 
promotion of investment funds across GCC member 
states, outlining criteria these funds should meet. It is 
part of the GCC's Regulatory Framework for passporting 
financial products. These rules are bound to streamline 
the movement of investment funds across GCC member 
states, promoting seamless cross-border operations and 
strengthen integration among the Gulf financial markets. 
Through this initiative, the CMA aims to enhance market 
liquidity, 
strengthen 
the 
economic 
scales 
and 
competitiveness of GCC countries, achieve financial 
market integration, unify investment-related policies and 
regulations, 
while 
enhancing 
governance 
and 
transparency in a bid to promote local, regional, and 
international investment growth. 
The CMA Approves the Guidelines for Issuing Green, 
Social, Sustainable, and Sustainability-Linked Debt
Instruments 
The Capital Market Authority's (CMA's) Board has 
approved the Guidelines for Issuing Green, Social, 
Sustainable, and Sustainability-Linked Debt Instruments. 
The CMA's approval of the Guidelines is based on its role 
in implementing the Sustainability Strategy established
by the Ministerial Committee for Corporate Sustainability 
Strategy, in collaboration with various relevant public 
and private sector entities. This is in line with the CMA's 
strategic objectives in its 2024-2026 plan, which relates
to developing the sukuk and debt instruments market. 
The Guideline is one of the key deliverables of the 
initiative titled “Establish