The Government of the Sultanate of Oman represented by the Ministry of Finance (MoF) has announced the successful completion of Series 4 of the Omani Rial Sukuk Issuance Programme. The Sovereign Sukuk was issued for an amount in excess of RO 200mn as against the issuance target of RO 175mn following strong demand from local investors and oversubscribed orderbook of Circa RO 220m. The Sukuk were offered with a minimum value of RO 10,000 during the period of 4–10 November 2020.

To share the investment opportunity with the wider public, the Government has now announced the launch of the Public Offer – Series 5 Sukuk Certificates due 2022. The public offer presents a unique opportunity for retail investors to participate in the Government’s Sukuk programme with a profit of 4.75% per year and a limited maturity period of 2 years, at profit distribution rate every six months (May and November) until the maturity date of the sukuk on November 24, 2022. The minimum subscription amount is OMR 100. Once issued, the Sukuk will be listed on the Muscat Securities Market (MSM) for trading.

Similar to  the previous issuance, this sukuk is structured under the Shariah principle of Ijarah.

The Omani Rial Sukuk Issuance Program forms an integral part of the strategy of the Government to enhance the depth and scale of the overall capital market in Oman, enabling it to play a more vital role in the economic development of country, and further developing Oman’s secondary Islamic capital market. The issuance of the Sukuk will support the Government in fulfilling its development targets.

Maisarah Islamic Banking Services (Bank Dhofar S.A.O.G.), and Ubhar Capital S.A.O.C. are the Issue Managers for the Transaction. Muscat Clearing & Depositary Company S.A.O.C. will act as certificateholders’ agent, paying agent and registrar for the Sukuk.

Full information on Prospectus including the offer terms and conditions are available on websites of the CMA ( ), the MSM ( ), and the websites of all the Collecting Banks / Agents.

Investors who wish to subscribe for ‘Sukuk Certificates’ can complete an application which can be downloaded from the websites of the Issue Managers or the Collecting Banks / Agents. All conventional and Islamic banks, Islamic banking windows, and securities brokerage companies licensed to operate in Oman by the Capital Market Authority (CMA) of Oman will accept application forms for subscription.


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