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FinancialNews


  • 17-12-19

    Oman's Capital Market Authority approves on sukuk

    (MENAFN) Oman's Capital Market Authority approved on sukuk (Islamic bonds) program value about USD779 million through private subscription, as it announced on Monday.


    The first issue presented one million sukuk at a whole worth of about USD259 million in 5 years with a maturity date by December 10, 2024.


    Sukuk is an Islamic financial certificate that obeys with Islamic religious law commonly recognized as Sharia.


    The issues must also make a contractual vow to buy back the bond at a future date at par worth.


    The second issue will cover 2 million sukuk at a total worth of 200 million Omani rials in 7 years with a maturity date by December 10, 2026.

    MENAFN1712201900450000ID1099433723

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