Muscat – Oman’s government plans to raise RO100mn through its 12th issuance of local sovereign sukuk, with an option to increase the issue size by up to RO50mn, according to an announcement by the Oman Sovereign Sukuk Company.

The seven-year Sharia-compliant sukuk will carry a fixed annual profit rate of 4.85% and mature on October 29, 2033. The issuance is being made by the Oman Sovereign Sukuk Company on behalf of the Ministry of Finance.

The subscription period opens on October 19 and closes on October 25, 2026. The sukuk will be issued on October 29, with profit payments made quarterly on January 29, April 29, July 29 and October 29 each year until maturity.

The issuance is open to individuals, institutions and investors of all nationalities, both within and outside Oman, through competitive and non-competitive subscription channels.

Under the competitive channel, investors can submit bids through designated local bank branches in accordance with the approved auction procedures. Individual investors can subscribe through the non-competitive channel electronically via the banking applications specified in the prospectus.

The announced fixed profit rate of 4.85% applies to the non-competitive channel, where the maximum subscription is RO10,000 per investor.

Investors can obtain the prospectus and subscription forms from the Ministry of Finance’s website or the websites of the collection banks.

Prospective subscribers must obtain an investor number through the Muscat Clearing and Depository Company website or the Oman Shares application at least one day before submitting their applications to the designated collection banks.

The sukuk will be tradable on the Muscat Stock Exchange at prevailing market prices. Details of the securities allocated to subscribers will be recorded in the sukuk register maintained by Muscat Clearing and Depository Company.

Oman Sovereign Sukuk Company has also advised subscribers to ensure that the bank account number provided in their applications matches the account registered with Muscat Clearing and Depository Company to facilitate the subscription process and ensure timely receipt of profit and principal payments.