Oman Capital Market Authority approves 200 million riyals Sukuk

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MUSCAT (WAF) – The Capital Market Authority (CMA) of Oman has approved the second issue of Sukuk during the year at RO 200 million.
A statement issued today by the CMA said, Golden Group of Companies L.L.C was granted the approval to issue RO200mln Sukuk (Wakalah). The issue will be in several tranches, the first of which will be RO50mln for One Omani Riyal per certificate (Suk). The term of the issue extends to five years until 2022 at an annual profit rate of 6.5% for each certificate.
Earlier this year, CMA has granted the Islamic Banking arm of Bank Muscat ( Meethaq) an approval to issue up to RO100mln worth of Sukuk in tranches.