IslamicFinance.de

Several Omani private firms are keen to raise funds by way of sukuk after Mohammed Al Barwani Holding received approval for a OMR58 million-issue. The companies interested in issuing sukuk can avail tax concession if the special purpose vehicle for sukuk issue is registered in Oman and the issue is floated in the local market. Mohammed Al Barwani Holding's sukuk issue opened subscription on Monday either in Omani rial or dollar. So far, Oman witnessed only two sukuk issues that raised a total of OMR300 million, OMR50 million from real estate development firm Tilal Development Company and the other one a OMR250 million sovereign sukuk issue.