Muscat, The Ministry of Finance has issued international

Sharia-compliant sukuk bonds worth $1.75 billion for nine-year

maturity period.

The move comes as part of funding operations listed in the

government’s plan endorsed earlier this year to meet its financial

requirements based on fiscal control and management of public debt

levels.

According to current indicators, the international Sharia-compliant

sukuk issue saw a large turnout of international investors and asset

management institutions this week, with the bids multiplying more than

6.5 times over the issued sukuk and drawing more than $11.5 billion.

Existing data shows that the rates of interest from the sukuk improved

and generated 4.875%, less than what the government issued earlier.

The bids diversified in a broad base of geographical markets in the

GCC, Asia, Europe and the United States.

Source: Oman News Agency