Muscat: The Omani Sovereign Sukuk Company, acting on behalf of the Government of the Sultanate of Oman represented by the Ministry of Finance, announced the results of the subscription for the eleventh issue of local sovereign sukuk valued at RO 120 million.

According to a statement issued by the company, total subscription requests reached approximately RO 249.81 million, significantly exceeding the value of the issue and highlighting robust demand from investors.

The average accepted profit rate for the sukuk stood at 4.19 per cent, while the maximum accepted profit rate was 4.20 per cent and the minimum accepted profit rate was 4.17 per cent.

The company stated that the sukuk will be issued today, with returns to be paid semi-annually on June 15 and December 15 each year. The sukuk will mature on June 15, 2031, providing investors with a long-term Sharia-compliant investment instrument backed by the Government of Oman.