Bank Muscat Greenlights RO500 Million Sukuk Issuance, Announces Dividend

Oman, 9 April, 2025 : Bank Muscat held its Annual Ordinary General Meeting (AGM) and Extraordinary General Meeting (EGM) on March 26, 2025, via the Muscat Clearing and Depository electronic platform. The meetings, chaired by Sheikh Khalid bin Mustahail al Mashani, included the election of the Board of Directors for the 2025–2028 term.

At the EGM, shareholders approved the renewal of the Meethaq Sukuk Programme and the issuance of sukuk worth RO500 million, to be offered in tranches in both domestic and international markets. Additionally, shareholders approved the issuance of senior unsecured bonds under a Medium-Term Programme (MTP) in Oman.

During the AGM, shareholders approved a cash dividend of 16.5bz per share for the fiscal year 2024. Following the AGM, Sheikh Khalid bin Mustahail al Mashani was reappointed as Chairman, and Sheikh Ahmed bin Hamed bin Hilal al Sadi was appointed Deputy Chairman.

Mashani thanked shareholders, customers, and partners for their continued support and outlined the bank's commitment to leveraging technology, improving operational efficiency, and maintaining competitiveness to deliver high-quality banking services.

Bank Muscat reported a net profit of RO225.58 million for 2024, reflecting a 6.2% increase from the previous year.