Oman: Takaful Oman issues 2nd perpetual sukuk series at lower indicative profit rate
Source: Middle East Insurance Review | Feb 2026
Takaful Oman Insurance has issued and listed its Series 2 perpetual sukuk from which it raised OMR6m ($15.6m).
The sukuk was issued through a private placement on 30 December 2025. It carries an indicative profit rate of 6.75% per annum for the first five years, payable semi-annually. The sukuk is listed on the Bonds and Sukuk Market of Muscat Stock Exchange (MSX).
This Series 2 sukuk issuance followed that of Series 1 that was allotted in February 2021, also to raise OMR6m. The initial yearly profit rate for the first series was 8.5%, also payable semi-annually. The Series 1 sukuk was the first-of-its-kind perpetual sukuk established by a takaful company in Oman.
Both sukuk series were issued under the company’s Sukuk Al Mudarabah Trust Certificate Issuance Programme established in 2021. In December 2020, the Capital Market Authority approved the main prospectus of the Sukuk Al Mudarabah Trust Certificate Issuance Programme for the offer of perpetual Sukuk Al Mudharabah totalling OMR25m.
Following the listing of Series 2, the Series 1 sukuk will be redeemed on 1 February 2026 and delisted, the company announced. M