Second Sukuk Issuance of OMR 25 Million *
When opportunity knocks again, don’t think twice.
Following the successful issuance of Sukuk Series 1, Meethaq is offering yet another opportunity for you to invest in our continued success.
With OMR 1.4 Billion in assets, we are growing stronger with a wider range of products, more branches and an increasing customer base. Invest and grow with Meethaq Islamic Banking.
Meethaq Sukuk Series 2 under Meethaq Sukuk Program
Under the Program, Meethaq plans to issue Sukuk certificates in several tranches over a period of time which will be listed on the Bond and Sukuk market of the Muscat Securities Market (MSM).
The Second Sukuk issuance will be of OMR 25 million* 5 year certificates due 2024.
Profit Rate 5.5% p.a. (Indicative)
Tenure 5 years (Due 2024)
* The amount may be increased by way of over-allotment of Sukuk Certificates in case of oversubscription
Investment Highlights
Market leader in Islamic banking with a share of 32% of Islamic Financing as well as Total Assets in the Sultanate
- Positioned to benefit from the growth of Oman economy and diversification plans as well as the growth of Islamic banking.
- Most profitable bank in Oman with strong and robust financial position.
- Strong capitalization levels with CAR of 19% at the Group level and CAR of 14% at Meethaq level.
- Strong government support in the form of significant direct and indirect ownership through various entities.
- Meethaq’s experienced management team which includes seasoned Islamic bankers with vast knowledge and Islamic transaction structuring skills.
- Strong Sharia’h Supervisory Board and compliance framework under the guidance of well-respected and renowned Sharia’h scholars.
- Shari’a compliant fixed income investment opportunity with stable return and backing of Meethaq.
- Attractive return of 5.5% per annum payable semi-annually over a 5-year period.
- Listed on MSM Bond and Sukuk Market. Tradable instrument allowing investors to buy / sell in the market during the Tenure of the Sukuk.
- Small ticket size catering to the savings and investment needs of the Retail segment.
Important Dates
- Issue Opens: 29 April 2019
- Issue Closes: 15 May 2019
Subscription Process
Who can apply?
- All Omani and non-Omani individuals and juristic persons can apply.
- You can also apply on behalf of minor children who are below 18 years of age.
Min. Application Size
The minimum application size is OMR 1,002 per applicant for subscription of minimum 1,000 certificates of OMR 1.002 each (inclusive of Offer Expenses of baisa 2 per certificate) and thereafter in multiples of 100 certificates. Applications for subscription of certificates below 1,000 will not be accepted.
How to apply
Collect Sukuk Application Form from Meethaq branches or any of the other collecting banks below and submit before the issue closing date.
Collecting Banks
Meethaq /
Bank Muscat /
Bank Nizwa
Downloads (PDF)
Disclaimer
The purchase of the Sukuk certificates may involve certain risks. Before making an investment decision, applicants should consider carefully, in the light of their own financial circumstances and investment objectives, all of the information in the Base Prospectus (as supplemented by the Prospectus for Series 2). For a discussion of the principal risk factors that may affect the ability of the trustee to fulfill its obligations under the certificates, see “risk factors” in the Base Prospectus (as supplemented by the Prospectus for Series 2) which will be available on the websites of the CMA (www.cma.gov.om), the MSM (www.msm.gov.om) and the Obligor (www.meethaq.om).
