In a statement to Muscat Securities Market, Bank Muscat in Oman confirmed that all regulatory approvals are now in place for the Meethaq Sukuk Programme.
The debut issuance under the Program i.e. Series 1 will commence on 21 May 2017 and close on 1 June 2017. The Series 1 will be for OMR 25 million with a green shoe option of a further OMR 25 million, in case of oversubscription.
The Sukuk will have a tenor of five years and will be issued through a public offer which will be open to all Omani and Non-Omani individuals as well as institutional investors.