MUSCAT: Bank Muscat has received approval from the Central Bank of Oman and the Capital Market Authority, Oman to issue Series 2 under the Meethaq Sukuk Program.[the_ad id=”31605″]The subscription for Series 2 will commence on 29 April 2019 and close on 15 May 2019. The Series 2 will be for OMR 25 million with a green shoe option to increase it to a maximum of OMR 55 million, in case of oversubscription. It will have an indicative profit rate of 5.5% p.a. and tenor of 5 years.
It will be issued through a public offer which will be open to all Omani and Non-Omani individuals as well as institutional investors.