Bank Muscat, the leading financial services provider in the Sultanate of Oman, along with Meethaq Islamic Banking, announced the successful execution of Series 11 Issuance under the Omani Rial Sovereign Sukuk issued by the Government of Sultanate of Oman, represented by the Ministry of Finance. The transaction attracted strong demand from investors and closed with a final order book of approximately OMR 250 million, around 2.5 times the base issue size of OMR 100 million, reflecting continued confidence in the Sultanate’s credit profile and in the structure of the sovereign Sukuk programme.
This momentum supported the issuance and helped to achieve a successful outcome. Following the Ministry of Finance’s confirmation of the exercise of the OMR 20 million Greenshoe option, the final issue size was set at OMR 120 million. The 5-year sukuk has a profit rate of 4.20%, with an average yield of 4.192%. The subscription window for the sukuk issuance opened from 4th June to 10th June 2026, with the sukuk settlement scheduled for 15th June 2026. This outcome underscores the strength Bank Muscat and Meethaq’s execution achieved on this transaction.
The issuance witnessed participation from different categories of investors, retail as well as institutional. The sukuk is structured in accordance with Sharia-compliant principles. All allocation details and investor records will be maintained and administered by Muscat Clearing and Depository Company, as the central registrar and depository for the sukuk.
On the occasion, Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets at Bank Muscat, said: “The strong oversubscription and the tightening achieved during execution highlight the depth of demand for the Omani Rial sovereign sukuk. Closing the issuance at the target profit rate, with the greenshoe option fully exercised, is a clear reflection of the quality of this transaction and investors’ confidence.”
The selection of Bank Muscat and Meethaq Islamic Banking as the issue managers underscores their strong local, regional, and international reputation among individuals, corporates and financial institutions. Demonstrating their role as key players in advancing the Sultanate’s financial landscape, the Bank continue to build on the market-leading position by delivering innovative financing and advisory solutions. These include corporate and project finance, debt restructuring, public offerings, equity-linked instruments, private placements and mergers and acquisitions.
