Euromoney innovations in Islamic finance 2016: Government of the Sultanate of Oman

OR250 million ($650 million) sukuk

View award winners

Lead managers: Bank Muscat, Meethaq, Standard Chartered

This deal stands out for opening a new market. It was the first sukuk issue by the Sultanate of Oman and has the potential to kick-start the development of Islamic finance in a country that has been strangely lacking in it.

It helps, perhaps, that Gulf states suddenly need money for the first time in years. The low...