Mubasher: Oman Telecommunications Company (Omantel) announced yesterday that it appointed Standard Chartered Bank as an exclusive advisor for structuring new sukuk, and mandated HSBC and the National Bank of Oman to manage discussions with investors as of Monday.

Oman’s largest telecom provider said that it made the appointment procedures after obtaining a no-objection letter from the Capital Market Authority for the sukuk issuance, which will be dominated in U.S. dollar and Ommani rial, according to market conditions.

The Capital Market Authority’s CEO earlier announced that Omantel intends to issue sukuk worth OMR 50 million.