Bank Muscat, in partnership with Meethaq Islamic Banking, successfully managed the Series 11 issuance of the Omani Rial sovereign sukuk on behalf of the Government of the Sultanate of Oman, represented by the Ministry of Finance. The transaction closed with a final issue size of 120 million Omani Rials (RO), including a RO 20 million greenshoe option, following strong investor demand.

The original base size of the sukuk issuance was set at RO 100 million, but it received orders totaling approximately RO 250 million, more than double the initial offering. This strong oversubscription demonstrated continued investor confidence in Oman’s credit profile as well as the sovereign sukuk structure. The sukuk carries a profit rate of 4.20% and an average yield of 4.192%, with a maturity period of five years.

Subscriptions were accepted from June 4 to June 10, 2026, and the sukuk settlement date was scheduled for June 15. The offering attracted broad participation from both retail and institutional investors. The sukuk has been structured in compliance with Sharia principles, with all allocations and investor records to be managed by the Muscat Clearing and Depository Company, which serves as the central registrar and depository.

Khalifa Abdullah al Hatmi, Deputy General Manager of Investment Banking and Capital Markets at Bank Muscat, noted that the robust oversubscription and the ability to close the issuance at the target profit rate reflect high demand for Omani Rial sovereign sukuk and strong investor confidence. He highlighted the successful execution as a testament to the quality of the transaction.

Bank Muscat and Meethaq Islamic Banking’s role as issue managers underscores their established reputations locally and internationally among individual, corporate, and institutional investors. As key contributors to the development of Oman’s financial markets, Bank Muscat continues to expand its leadership position by offering innovative financing and advisory services, including corporate and project finance, debt restructuring, public offerings, equity-linked instruments, private placements, and mergers and acquisitions.