Bank Muscat eyes sukuk, to meet banks next week

Oman’s Bank Muscat will meet with banks next week to discuss plans for its debut sukuk, after gaining shareholders’ approval to establish a Or500m ($1.3bn) sukuk programme, with the possibility of international issuances. Muscat also received shareholders' approval to expand its Euro Medium Term Note programme from $800m to $2bn, according to a senior official at the bank.