Oman's 300-mln sukuk bonds approved in capital market
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E-mail Xinhua, December 17, 2019
MUSCAT, Dec. 16 (Xinhua) -- Oman's Capital Market Authority on Monday announced its approval of sukuk (Islamic bonds) program 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. Enditem
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