Following the issuance of Legal Opinion on ‘Enforceability of Close-out Netting under Saudi Arabian Law under the 2010 ISDA/IIFM Tahawwut Master Agreement’ in June 2025 covering the February 2025 “Saudi Central Bank – SAMA Close-out Netting and related Collateral Arrangements Regulation”, IIFM and ISDA have now updated the legal opinion to also include the “Kingdom of Saudi Arabia Capital Market Authority (CMA) Close-out Netting and Related Collateral Arrangements Regulation” issued in July 2025.
The updated opinion prepared by STAT Law Firm has now been expanded to cover both SAMA and CMA regulations which include Islamic hedging transactions with Saudi counterparties, ensuring a high degree of legal certainty over the enforceability of close-out netting under local law.
The Updated Opinion is available to IIFM members only, upon written request or IIFM members can download it from the IIFM website by members login.
The new updated TMA Netting Opinion for KSA as well as the existing opinions for England & Wales, Singapore, Malaysia and United Arab Emirates are available exclusively to IIFM members.