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 told Reuters on Wednesday.
Oman is about to introduce Islamic finance, becoming the last of the wealthy Gulf Arab 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 Co, said chief executive Abdlrehman Awadh Barham.
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