Sohar Islamic completes issuance of Oman’s first perpetual sukuk
Published 24 Feb,2021 via Muscat Daily - Sohar Islamic, the Islamic banking window of Sohar International Bank, has successfully completed the issuance of RO6mn perpetual sukuk al Mudaraba trust certificate by Takaful Oman Insurance.
The perpetual sukuk has an initial yearly profit rate of 8.5 per cent, payable semiannually through Takaful Sukuk Specialized Purpose Company (SPC) established by Takaful Oman for this specific programme.
As the issue manager and financial advisor, Sohar Islamic played a pivotal role in ensuring the successful issuance and completion of the entire activity, Sohar International Bank said in a press statement. The placement of the issue was done through a private placement to select investors whilst receiving a strong interest from institutions, fund managers, and wealth management clients of the bank.
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