MSX Lists Alizz Islamic Bank's OMR 30 Million Perpetual Sukuk
The Muscat Stock Exchange (MSX) has announced the listing of Alizz Islamic Bank's perpetual sukuk on its bonds and sukuk market, with a total issuance value of OMR 30 million (approximately USD 77.9 million).
The issuance comprises an Omani Rial tranche of OMR 26.15 million and a US Dollar tranche equivalent to OMR 3.85 million. A bell-ringing ceremony marked the listing, attended by Alizz Islamic Bank board members and capital market officials.
The perpetual sukuk are Sharia-compliant Additional Tier 1 capital instruments designed to strengthen the bank's capital adequacy in line with Basel III standards and Central Bank of Oman regulations. The structure was issued as a dual-currency offering in OMR and USD, initially sized at OMR 20 million with an option to upsize. Strong investor demand allowed Alizz to exercise the option and increase the issue to OMR 30 million.
MSX described the listing as a milestone in supporting Oman's financial market and fostering investment in Islamic financial instruments, positioning the exchange as a leading regional destination for trading Sharia-compliant securities.
The instruments offer flexibility as a financing tool, balancing the issuing bank's capital needs with investor demand for sustainable, Sharia-compliant returns over extended periods. The transaction marks a significant milestone for Alizz Islamic Bank and Oman's broader Islamic capital markets.
