Oman to see three sukuk issuances this year
Global Shari’ah scholar and chairman of Malaysia-based Amanie Advisors, Dr Mohd Daud Bakar has said at least three Omani companies are planning to float sukuk issues in 2014 for raising funds for their expansion programmes, Times of Oman has reported. The three firms offer construction, property development, telecoms and logistics services, he told the daily, declining to name the companies. “Everyone is looking at more than OR100m worth of sukuk issue. The second sukuk issue will be for more than OR100m,” he added. Tilal Development started the first sukuk issue in Oman by raising OR50m. “This is the good time to come out with a sukuk issue as investors are interested in parking their funds in sukuk instrument,” Dr Bakar added.