Bank Muscat Seeks Shareholder Approval for OMR 500 Million Meethaq Sukuk Program

Oman based financial services provider, Bank Muscat is expecting to obtain shareholder approval for the renewal of the Meethaq Sukuk program for up to OMR 500 million, at an Extraordinary General Meeting to be convened 24th March 2020.

In a disclosure given to Muscat Securities Market, Bank Muscat said that the Sukuk will be issued in several tranches in both domestic and international markets. The Sukuk issuance is expected to take place either through a private placement or a public listing.

Sukuk tranches under the Meethaq Sukuk Program are expected to be issued on different dates within five years of approval, while each Sukuk tranche will be of different amounts with different p...