MUSCAT, Dec 17 (NNN-ONA) – Oman’s Capital Market Authority, on Monday, announced its approval of sukuk (Islamic bonds) programme worth 300 million Omani rials (about 779 million U.S. dollars) through private subscription.
The first issue offered one million sukuk, at a total value of 100 million Omani rials (about 259 million U.S. dollars) over five years, with a maturity date by Dec 10, 2024.
Sukuk is an Islamic financial certificate, that complies with Islamic religious law, commonly known as Sharia. The issues must also make a contractual promise to buy back the bond at a future date at par value.
The second issue will cover two million sukuk, at a total value of 200 million Omani rials, over seven years, with a maturity date by Dec 10, 2026.– NNN-ONA
