Takaful Oman Preparing to Issue OMR 6 Million Perpetual Sukuk Via Private Placement

Oman-based Shariah-compliant insurance provider Takaful Oman Insurance (Takaful Oman), has announced on the Muscat Securities Market that it is in the process of issuing a perpetual Sukuk worth OMR 6 million.

The bourse announcement, dated 27th of December 2020, stated that Takaful Oman is in the process of preparing the prospectus of the Sukuk to be issued through private placement, in cooperation with Sohar Islamic acting as issue manager. The announcement stated that the Sukuk issuance, subscription and dealing is subject to approval by Oman’s Capital Market Authority (CMA).

Meanwhile, the CMA released a series of approvals related to Takaful Oman’s Sukuk issuances on the 30th of December 2020, according to a bourse announcement. The CMA approved the l...