Shareholders of Oman's Bank Muscat approved plans for a OR500 million ($1.30 billion) sukuk programme that will be issued in various tranches, it said on Thursday.

The plan comprises issuance in domestic and international markets through public subscription or private placement, a bourse statement said.

Tranches will have different amounts, maturities and profit rates, and be issued on different dates, the lender added without giving the details. All the sukuk would be issued within five years.  - Reuters