Oman has announced the launch of the twelfth series of government sukuk worth 100 million Omani Rials (OMR). This initiative has been executed on behalf of the Government of the Sultanate of Oman, with the possibility of increasing this amount by an additional 50 million Omani Rials. The new sukuk is offered with an annual interest rate of 4.85 percent and a duration of 7 years.
Registration Details and Key Dates
The registration process to participate in this sukuk will begin on Tuesday and will continue until October 25. The issuance date of the sukuk on the settlement date will be October 29. The profits related to this sukuk will be paid four times a year, on the dates of January 29, April 29, July 29, and October 29, until the maturity date of the sukuk, which is October 29, 2033.
Read more: IMF Report on Economic Growth in Asia
Registration Open to All
Registration for this series of sukuk is available to all individuals, institutions, and investors from inside and outside the Sultanate of Oman, regardless of nationality. This process is conducted through two paths: a competitive path that allows investors to participate in competitive bidding and a non-competitive path that allows individual investors to register electronically through specified banking applications in the brochure, with a fixed interest rate of 4.85 percent, with a maximum limit of 10,000 Omani Rials for each investor.
Investors can obtain brochures and registration forms through the Ministry of Finance website or the websites of the collecting banks.
Those interested in registering must obtain their investor number from the Muscat Clearing and Depository Company website or through the "Oman Shares" app at least one day before submitting their registration request to the collecting banks.
This sukuk is compliant with Islamic Sharia principles and can also be bought and sold on the Muscat Stock Market. Details and data related to the sukuk allocated to investors in this issue will be recorded and documented in the sukuk registration managed by the Muscat Clearing and Depository Company.
The Oman Government Sukuk Company has emphasized the importance of matching the bank account number written in the registration application with the number registered with the Muscat Clearing and Depository Company to ensure a smooth registration process and that investors receive their profits and principal amounts on time on the maturity dates.
Read more: Saudi Finance Minister: The Global Economy is Remarkably Resilient · Cultural Relations between Oman and Britain: A Journey of Over Two Centuries of Cooperation
