Latest news with #BankMuscat
Zawya
4 days ago
- Business
- Zawya
Oman: Bank Muscat successfully manages $259mln sovereign sukuk issuance
Muscat: Bank Muscat, the leading financial services provider in the Sultanate of Oman, announced that it successfully managed series 9 of the Sovereign Sukuk Issuance launched by the Oman Sovereign Sukuk Company, with a total value of OMR100 million. The sukuk carries a 7-year maturity and offers an annual profit rate of 4.65%. Bank Muscat was appointed as the official issue manager and collecting bank for the subscription, in collaboration with other local financial institutions. This mandate reinforces the bank's leadership in executing major investment transactions within the Sultanate and across GCC capital markets. The Oman Sovereign Sukuk Company had opened the subscription window from 27th May to 1st June 2025, with the sukuk settlement scheduled for Wednesday, 4th June 2025. The sukuk was priced within a competitive yield range, with an average yield of 4.625%, a minimum yield of 4.57%, and a maximum yield of 4.64%, reflecting strong investor confidence and market stability. The sukuk payouts will be made semi-annually on 4th June and 4th December each year until maturity on 4th June 2032. The issuance witnessed participation from all categories of investors, retail as well as institutional. The sukuk is structured in accordance with Sharia-compliant principles and is fully tradable on the Muscat Stock Exchange (MSX) at prevailing market prices. All allocation details and investor records will be maintained and administered by Muscat Clearing and Depository Company, as the central registrar and depository for the sukuk. Commenting on the occasion, Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets at Bank Muscat, expressed pride in collaborating with the team at Oman Sovereign Sukuk Company and the Ministry of Finance, Sultanate of Oman for this successful issuance. He noted: 'The Bank's appointment as the official issue manager for the sukuk issuance is a testament to the company's trust in Bank Muscat's capabilities and leadership in managing major investment transactions for a range of corporate and institutional clients. The Bank, represented through its Investment Banking and Capital Markets division, has extensive experience in structuring and executing large-scale capital market deals, both on debt as well as equity side, and its specialized team is well-equipped to navigate evolving market dynamics and complexities. Bank Muscat is committed to supporting the growth of local financial markets by offering a comprehensive suite of banking and financial solutions tailored to institutional and retail customers alike.' The selection of Bank Muscat as the issue manager underscores its strong local, regional, and international reputation among individuals, corporates, and financial institutions. Demonstrating its role as a key player in advancing the Sultanate's financial landscape, the Bank continues to build on its market-leading position by delivering innovative financing and advisory solutions. These include corporate and project finance, debt restructuring, public offerings, equity-linked instruments, private placements, and mergers and acquisitions. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
5 days ago
- Business
- Times of Oman
Bank Muscat successfully manages OMR100mn sovereign sukuk issuance
Muscat: Bank Muscat, the leading financial services provider in the Sultanate of Oman, announced that it successfully managed series 9 of the Sovereign Sukuk Issuance launched by the Oman Sovereign Sukuk Company, with a total value of OMR100 million. The sukuk carries a 7-year maturity and offers an annual profit rate of 4.65%. Bank Muscat was appointed as the official issue manager and collecting bank for the subscription, in collaboration with other local financial institutions. This mandate reinforces the bank's leadership in executing major investment transactions within the Sultanate and across GCC capital markets. The Oman Sovereign Sukuk Company had opened the subscription window from 27th May to 1st June 2025, with the sukuk settlement scheduled for Wednesday, 4th June 2025. The sukuk was priced within a competitive yield range, with an average yield of 4.625%, a minimum yield of 4.57%, and a maximum yield of 4.64%, reflecting strong investor confidence and market stability. The sukuk payouts will be made semi-annually on 4th June and 4th December each year until maturity on 4th June 2032. The issuance witnessed participation from all categories of investors, retail as well as institutional. The sukuk is structured in accordance with Sharia-compliant principles and is fully tradable on the Muscat Stock Exchange (MSX) at prevailing market prices. All allocation details and investor records will be maintained and administered by Muscat Clearing and Depository Company, as the central registrar and depository for the sukuk. Commenting on the occasion, Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets at Bank Muscat, expressed pride in collaborating with the team at Oman Sovereign Sukuk Company and the Ministry of Finance, Sultanate of Oman for this successful issuance. He noted: 'The Bank's appointment as the official issue manager for the sukuk issuance is a testament to the company's trust in Bank Muscat's capabilities and leadership in managing major investment transactions for a range of corporate and institutional clients. The Bank, represented through its Investment Banking and Capital Markets division, has extensive experience in structuring and executing large-scale capital market deals, both on debt as well as equity side, and its specialized team is well-equipped to navigate evolving market dynamics and complexities. Bank Muscat is committed to supporting the growth of local financial markets by offering a comprehensive suite of banking and financial solutions tailored to institutional and retail customers alike.' The selection of Bank Muscat as the issue manager underscores its strong local, regional, and international reputation among individuals, corporates, and financial institutions. Demonstrating its role as a key player in advancing the Sultanate's financial landscape, the Bank continues to build on its market-leading position by delivering innovative financing and advisory solutions. These include corporate and project finance, debt restructuring, public offerings, equity-linked instruments, private placements, and mergers and acquisitions.
Zawya
6 days ago
- Business
- Zawya
GEMS Education secures strategic investment from Bank Muscat's Izdihar Real Estate Fund for flagship GEMS School of Research and Innovation
Dubai, UAE: GEMS Education is pleased to announce that the Izdihar Real Estate Fund, managed by Bank Muscat, the leading financial services provider in the Sultanate of Oman, will invest in the real estate of GEMS' upcoming flagship British curriculum school, GEMS School of Research and Innovation in Dubai Sports City. Scheduled to open in August 2025, the state-of-the-art campus is being developed at a cost of USD 100 million. Strategically located in the heart of premium residential communities, the school has already seen strong early enrolments, reflecting continued robust demand for quality education in Dubai. The school brings together world-class teachers, the latest AI technologies, and unmatched facilities to reimagine education. 'We are delighted to welcome Bank Muscat's Izdihar Real Estate Fund as a strategic partner in this landmark project,' said Dino Varkey, Group Chief Executive Officer, GEMS Education. 'Their investment underlines the strength of our education platform, our continued focus on high-quality infrastructure, and our confidence in Dubai as a leading global education hub.' Khalifa Abdullah Al Hatmi, Deputy General Manager, Investment Banking and Capital Markets, Bank Muscat, said: 'We are pleased to partner with GEMS Education, a recognised leader in private education, through this investment in GEMS School of Research and Innovation, Dubai. 'This investment through our Izdihar Fund aligns with our long-term strategy of supporting essential community infrastructure and generating sustainable value for our investors. Education remains a resilient and essential asset class, and we are pleased to contribute to a project that will serve generations of students.' Ovais Chhotani, Chief Financial officer, GEMS education, said: 'Our partnership with Bank Muscat reflects a growing institutional interest in the education sector. This investment reinforces GEMS Education's commitment to expanding its network of world-class learning environments in the region and continuing our long history of investing in state-of-the-art facilities offering innovative and immersive learning experiences for our students.' CoReal Partners acted as the M&A advisor, while Eversheds Sutherland led the legal negotiations on behalf of GEMS Education. Baker McKenzie advised Bank Muscat on the transaction. About GEMS Education GEMS Education is one of the oldest and largest K-12 private education providers in the world and a trusted and highly regarded choice for quality education in the Middle East and North Africa region. As a company founded in the UAE in 1959, it holds an unparalleled track record of providing diverse curricula and educational choices to all socio-economic means. Having started with a single school run from a private home in Dubai, GEMS remains a family business to this day. Its inspiring Founder, Sunny Varkey, and his son, Dino Varkey, who is Group Chief Executive Officer, are responsible for providing vision, insight, and strategy across the organisation. Every day, GEMS has the privilege of educating students from over 176 countries through its owned and managed schools globally. And through its growing network, as well as charitable contributions, it is fulfilling the GEMS vision of putting a quality education within the reach of every learner. Every year, students graduating from GEMS schools progress to the world's best universities. Over the past five years, GEMS students have been accepted into over 1,050 universities in 53 countries including all eight Ivy League universities in the US and all 24 Russell Group universities and colleges in the UK. About Bank Muscat and the Izdihar Real Estate Fund Established in 1982, Bank Muscat is the Sultanate of Oman's leading financial institution, offering a broad spectrum of services across corporate banking, retail banking, investment banking, treasury, private banking and asset management. The Bank, with assets of more than USD 36 billion in 2025, has the largest network in Oman, exceeding 190 branches distributed across various governorates. Izdihar Real Estate Fund is the first and among the largest real estate investment trust (REIT) type of fund established in Oman and regulated by the Financial Services Authority. It was set up in December 2015, with the objective to generate sustainable and attractive long term returns to investors. The Fund manages assets under management (AUM) worth more than USD 230 million, with a strong track record of generating returns to investors since its inception.
Times of Oman
26-05-2025
- Business
- Times of Oman
Oman announces 9th issuance of Local Sovereign Sukuk for public subscription
Muscat: The Oman Sovereign Sukuk Company, acting on behalf of the Government of the Sultanate of Oman through the Ministry of Finance, has announced the launch of the 9th issuance of Local Sovereign Sukuk. The offering is valued at OMR100 million, with a Greenshoe option to increase the issuance size. This Sukuk will have a 7-year maturity period and offers an annual profit rate of 4.65%. The subscription period is scheduled to commence on Tuesday (27 May, 2025), and will conclude on Sunday (1 June, 2025. The Sukuk are expected to be issued on Wednesday 4 June 2025 (the "Issuance Date"). Profit payments will be made semi-annually on 4 December and 4 June until the maturity date of 4 June 2032. This Sukuk issuance is open to all categories of investors, residents and non-residents (irrespective of their nationalities). The Sukuk will be offered through a competitive auction process. Interested investors may submit their bids through the designated collecting banks: Bank Muscat (Meethaq Islamic), Ahli Bank (Ahli Islamic), during the specified subscription period. These Sukuk are structured in compliance with Shari'a principles and will be tradable on the Muscat Stock Exchange at prevailing market prices. Details of the allotted Sukuk will be recorded in the Sukuk register maintained and managed by the Muscat Clearing and Depository Company. The Oman Sovereign Sukuk Company underscores the critical importance of ensuring that the bank account number provided in the subscription application precisely matches the account details registered with the Muscat Clearing and Depository Company. This accuracy is essential to facilitate a seamless subscription process and ensure the timely disbursement of profit payments and principal redemption at maturity.
Zawya
09-05-2025
- Business
- Zawya
Oman: Q1 performance of SAOG firms shows positive market momentum
The first quarter results for 2025 are out, with strong sector-wide performance, continuing the growth witnessed in 2024. The financial sector remained resilient, fueled by robust banking activity, while the industrial sector posted consistent gains compared to the same period last year, driven by strength in manufacturing and construction. Despite a fresh IPO, the service sector saw a drop in profitability, as energy companies underperformed. The financial sector recorded strong growth during the year, led by a robust performance in the banking industry with further increases in lending volumes. Although Bank Muscat continued to lead the sector, posting a profit of RO 58m, up from RO 54m, Sohar Bank reported a decline in profitability, with profits falling from RO 25m to RO 21m, largely due to a drop in net interest income. Although recent U.S. tariffs may introduce greater market volatility, particularly affecting equities and interest rates, banks in Oman have stated publicly that they do not expect any direct impact on their activities or investments. The insurance sector experienced a strong recovery, led by LIVA Group's impressive turnaround, posting a profit of RO 4m compared to a loss of RO 661K in the previous year. Leasing companies, recorded modest but consistent growth in profitability. The industrial sector has shown commendable resilience compared to the previous year, marked by notable growth driven primarily by the manufacturing segment. In the construction space, Galfar Engineering reported a loss of RO 675K, a reversal from the RO 199K profit recorded in the prior year, due to reduced revenues and rising operational costs. Raysut Cement continues to face headwinds but has made progress in reducing its financial losses, posting a loss of RO 1.8m down from RO 2.6m during the corresponding period last year. Jazeera Steel and Oman Cement have remained the key pillars of profitability within the sector. The manufacturing subsector exhibited a mixed performance, with Dhofar Foods posting a strong profit of RO 475K, marking a turnaround from small loss in the prior year. Oman Refreshments, which remaining impacted by a GCC-wide consumer boycott of American products, managed to reduce its losses substantially from RO 1.5m to just RO 125K. Meanwhile, Voltamp Energy, Oman Cables, and Oman Flour Mills sustained high profitability, reinforcing their role as key pillars supporting the manufacturing sector's overall resilience and growth. The service sector, encompassing energy, oil and gas, tourism, and other diversified, recorded an overall decline of 8%, largely driven by losses in the energy industry during the first quarter amid seasonally low electricity demand. Among the few profitable entities in the subsector were Abraj Energy and Sembcorp. The Muscat Stock Exchange (MSX) witnessed a successful IPO from Asyad Shipping, which was oversubscribed 1.4 times and raised RO 128m. The company reported a quarterly profit of RO 11m, marginally lower than RO 12m in the prior period. Within the oil and gas sector, OQ Exploration & Production remained the most profitable company listed on MSX, posting a profit of RO 75m, albeit compared to RO 82m previously. Meanwhile, OQ Base Industries saw profits rise substantially to RO 13m from RO 7m. The Oman's hospitality sector experienced a 20% decline compared to the previous year, with profitability continuing to be pressured by intense competition and market saturation. [This article was written by Karl Jackson, an Audit, Assurance and ESG Partner with Crowe Oman and is based on financial data published by the Muscat Stock Exchange.] Karl Jackson 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. ( Karl Jackson
