MUSCAT : The long-awaited Initial Public Offering (IPO) for the Ishraq Endowment Investment Fund has officially launched, following the approval of its prospectus by the Financial Services Authority (FSA). With an initial target capital of RO 10 million, the IPO aims to offer both individuals and institutions an opportunity to invest in a unique and innovative initiative. The subscription period for the IPO will remain open until January 2.
The Ishraq Endowment Fund is a collaborative effort between the Ministry of Endowments and Religious Affairs, the Sultan Qaboos Higher Centre for Culture and Science, and Bank Nizwa. Oman National Investments Development Company (Tanmia) has been appointed as the investment manager of the fund.
The fund is structured to allow for a wide range of subscribers. Individuals can invest with a minimum of RO 500, while companies can participate with a minimum investment of RO 5,000. A 20 baisa issuance premium will be applied to all subscriptions, with the unit value set at RO 1.
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The fund offers three subscription types:
Permanent Endowment – Investors can choose to donate their funds permanently for charitable purposes such as supporting mosques, orphans, and the poor under the Ministry of Endowments and Religious Affairs’ supervision.
Temporary Endowment – Funds will be endowed for a specific period, with proceeds allocated to causes the subscriber specifies at the time of subscription.
Investor Subscriber – This option targets those looking to achieve financial returns through the fund’s investments.
Dr. Ahmed bin Ali Al Kaabi, Chairman of the Board of Directors of Ishraq Endowment Fund, expressed that the IPO reflects an innovative approach to investment in Oman’s endowment sector, aiming to preserve core values while also promoting the country’s social and economic development. He highlighted the fund’s role in fostering Sharia-compliant financial solutions that can create sustainable value for investors and the broader community.
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