Oman’s Al Madina Real Estate plans to issue the country’s first sukuk or Islamic bond in the first quarter of next year, its chief executive said. The sultanate is about to introduce Islamic finance, becoming the last of the Gulf states to do so, and the government is expected to issue regulations covering the industry in coming months.
The company plans to issue a five-year, $130 million sukuk through its sister firm Tilal Development Company, said chief executive Abdlrehman Awadh Barham………………………………………..Full Article: Source