Oman’s Ministry of Finance Launches Third Issuance of its OMR Sovereign Sukuk Program

Oman’s Ministry of Finance (MoF) has announced the launch of the third issuance of its OMR Sovereign Sukuk Program, according to media reports.

The MoF, which has appointed Bank Muscat and its Islamic unit Meethaq Islamic Bank for the Sukuk issuance, is planning on targeting small investors via a mechanism to build a register of subscription orders.

The Sukuk issuance is part of Oman’s plan to tap local and international debt markets to renew reserves that were impacted by plummeting oil prices and the economic downturn caused by the COVID-19 pandemic.

According to media reports, local development conventional bonds valued at OMR 5...