Muscat – Oman’s debt capital market (DCM) contracted by 7% year-on-year, to $44bn outstanding, in 2023 as the government prepaid more of its debt using the budget surplus from higher oil prices, Fitch Ratings said.
In contrast, the share of sukuk in the outstanding debt capital market mix grew to 21.1% in 2023 from 18% in 2022, Fitch noted in a report.
According to Fitch’s estimates, sukuk issuance in Oman surged by 231% year-on-year…