Nov 04 2012

Tilal may announce plans for sukuk issue

Muscat: A local real estate firm is expected to announce its plans to raise funds by way of an Islamic debt instrument or sukuk at the Muscat International Islamic Finance Forum, which will kick off.

It was reliably learnt that Tilal Development Company, which developed the Muscat Grand Mall, will announce their sukuk plan.

But it is not clear whether the company is raising money from within Oman or from some other GCC countries since the regulations are not in place. The Capital Market Authority is yet to announce the regulation for takaful firms and sukuks. Further, those attending the forum will be privy to strategic alliances and MoU signings which will be of direct impact to the Islamic finance community in Oman. Muscat International Islamic Finance Forum will bring together top-level experts in the Islamic financial sector to Oman.

Organised by Amanie Advisory House of Oman and Amanie Nexus of Malaysia, industry leaders will meet and discuss new possibilities and collaborations in Islamic banking and finance, with a special focus on Oman.

Guest of Honour at the event is His Highness Sayyid Assad bin Tareq Al Said, representative of His Majesty the Sultan, while Dr Mahathir Mohamad, former Prime Minister of Malaysia, will deliver the keynote address.
Other notable public
figures addressing the audiences include Dr Mohd Daud Bakar, group chairman of Amanie Advisors, in addition to Darwish bin Ismail bin Ali Al Balushi, minister of finance; Sulaiman Al Harthy, group general manager of Meethaq and Hamdan Al Hinai, chairman of Ahli Bank.

Amanie Advisory House of Oman is the local practice of Amanie Advisors, a specialist advisory firm in the field of Islamic finance with offices across the globe.

Amanie Nexus is renowned across the globe for organising seminars and symposia on issues facing the Islamic finance industry and the way forward for the future.

© Times of Oman 2012

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