Strong response to Meethaq Sukuk

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has evoked strong response to the Sultanate’s first Sukuk programme. The maiden RO25 million issuance, which is part of a larger RO100 million Sukuk programme for retail and institutional investors, was open for subscription till 1 June. The debut Sukuk issuance for RO 25 million comes with a green shoe option of a further RO25 million, in case of oversubscription. The issue has an indicative profit rate of 5 percent per annum with a tenure of five years. The Meethaq Sukuk programme is set to transform the landscape of Islamic banking in Oman. Meethaq Sukuk is priced RO 1.002 per certificate, including the issue expense of 2 baisa per certificate


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