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BankMuscat to start first offering under new sukuk program on Sunday
New York, May 16 – BankMuscat said it will begin the first issuance under its new sukuk program on Sunday.
The offering will be for OMR 25 million of five-year bonds with a greenshoe for an additional OMR 25 million.
Subscriptions will be accepted from individuals in Oman and in other countries and from institutional investors, according to an announcement from the bank.
The offering will end on June 1.
The bonds will be sold under its Meethaq sukuk program.
Announcement of the first offering follows the receipt of regulatory approvals.
BankMuscat is based in Muscat, Oman.
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