Oman plans to launch third issue of sovereign #sukuk issue

Oman's Ministry of Finance announced to launch of the third issue of sovereign sukuk denominated in Omani rials within the framework of the sovereign sukuk programme launched in 2019. The ministry has appointed Bank Muscat and its Islamic window (Meethaq) to manage the bond issuance and it can be subscribed through all licensed banks operating in the Sultanate. Oman is currently facing financial challenges as a result of the decline in oil prices and the consequences of COVID-19 pandemic, which have directly contributed to the sharp decline in global oil prices since the beginning of this year.