MUSCAT : The Oman Sovereign Sukuk Company, acting on behalf of the government, said the five-year sukuk will offer an annual profit rate of 4.2 per cent and mature on June 15, 2031.

The subscription period opens on Thursday and closes on June 10, with the sukuk scheduled to be issued on June 15. Returns will be distributed semi-annually on June 15 and December 15 throughout the term of the issuance.

The offering is open to individuals, institutions and investors of all nationalities, both within and outside Oman.

The sukuk will be issued through a competitive bidding process, with investors required to submit applications through the Islamic windows of participating collection banks. Prospectuses and subscription forms are available through the Ministry of Finance and participating banks.

Investors must obtain an investor number from the Muscat Clearing and Depository Company or through the Oman Shares application at least one day before submitting a subscription request.

The sovereign sukuk complies with Islamic Sharia principles and will be tradable on the Muscat Stock Exchange at prevailing market prices. Details of the allocated sukuk will be recorded in the official register maintained by the Muscat Clearing and Depository Company.

The Oman Sovereign Sukuk Company advised investors to ensure that the bank account details provided in subscription applications match those registered with the depository company to facilitate the payment of profits and principal amounts on maturity dates.

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