• Oman

    • Oman’s OQ Gas Network signs financing agreements with 16 banks worth $1.2 billion

    By on July 17, 2023

    Muscat: OQ Gas Networks (OQGN) signed today three financing agreements with 16 local and regional banks to the tune of USD 1.2 billion.

    Collectively, this financing move is considered one of the largest syndicates of Sharia-compliant financing in Oman, providing the company with access to capital in dual currencies (RO 225 million and USD 620 million) to support its ongoing corporate activities and refinancing requirements.

    OQGN Vice President of Finance, Khalid Al Qassabi commented “The terms were agreed to be compliant with sharia financing rules and we are now in the process of certifying them with local and regional sharia boards. We hope this financing will set a positive precedent for local, regional and international Islamic banks for similar transactions. This financing will support OQGN’s ongoing operations and next phase of growth.”

    OQGN is the exclusive owner and operator of the natural gas transportation network in Oman. OQGN aims to champion the management and development of energy infrastructure through innovative and sustainable solutions.

    more recommended stories

    Terms of Use:

  • This website Arabian Daily is an individual’s property, not used for any commercial or sales purposes. What you see here are one’s random thoughts in action. I, by no means, endorse any product or party through this, unless stated explicitly.
  • All work you will find here is copyrighted unless stated otherwise. No part of this work can be reproduced in any way with the exception of a) if you share our work, it should link back to this website; b) if you quote any part of our work, it should be properly credited to us with a link to this website.
  • All images used on this website have been taken from open source image websites on the Internet. If any of them are copyrighted to you and you want us to take them down or add credits, please feel free to contact us here, or by using the contact form on this page.
  • The views expressed on Arabian Daily are solely ours. They do not represent any party or any particular school of thought. This website does not promote racism in any form.
  • Privacy Policy:
    This website will respect the readers’ and the writer’s privacy. We do not sell any of their personal or contact information to another company. We do not put your information on spam lists. Also, and more importantly, we are not responsible for the privacy practices of any of our advertisers or website commenters.
  • Reserve Rights: We reserve the right to change the focus on this website, to shut it down, sell it or to change the terms of use at our own discretion.