At least three Omani companies, including Tilal Development Company (TDC), are planning to float Islamic debt instruments or sukuks next year. “We have given initial approvals for Tilal Development Company and an institution to float sukuks,” said Abdullah bin Salem bin Abdullah Al Salmi, Executive President of the Capital Market Authority (CMA).
He was talking to the media on the sidelines of an interactive session organised by the CMA. TDC earlier said that it is planning to float a RO50 million issue, which is seen by the end of January next year. Al Madina Financial and Investment Services is the lead arrangers of sukuk issue for TDC, which will use the proceeds of the issue for funding the expansion of its complex at Bausher………………………………………..Full Article: Source