Tilal Development Company, the premier real estate firm that developed the prestigious Muscat Grand Mall, has approached the Sultanate’s market watchdog Capital Market Authority (CMA) to raise funds by way of Islamic debt instrument or sukuk, which will be the first such issue in the country.
“The company officials have unofficially approached us. We have no problem in granting them an approval to raise money by way of a sukuk issue, once they are ready with the plan. They are yet to submit a formal application for the issue,- CMA executive president Abdullah bin Salem Al Salmi, told Times of Oman………………………………………..Full Article: Source