Meethaq Sukuk Company (SPC) has repaid 44.6 million Omani rials ($116 million) and fully redeemed Sukuk Series 1 on its contractual maturity date of 13, June 2022, according to a statement on the Muscat Securities Exchange website on Tuesday.

The issuer is a special purpose company set up by Meethaq Islamic Bank - Bank Muscat. To date, it has issued Meethaq Sukuk Series 1 and Meethaq Sukuk Series 2 under Meethaq's Sukuk Al Musharaka Program.

(Writing by Brinda Darasha; editing by  Seban Scaria)