Al Busaidy Mansoor Jamal & Co.

Barristers and Legal Consultants

AMJ top ranked by leading international law directories

Filed under AMJ Awards, AMJ News

For the seventh year running, AMJ has retained its top ranking in Chambers Global, a leading international guide to lawyers and law firms around the world. Chambers Global conducts independent research into the legal markets of 190 countries, identifying the leading lawyers and law firms through interviews with thousands of lawyers and their clients. The Firm won the select Band 1 ranking for its corporate law practice, and Band 2 for litigation in Chambers 2017 edition released mid-March. Additionally, four AMJ partners and special counsel retained the ‘leading lawyer’ ranking they have held for successive years. Chambers singles out managing […]

AMJ advises Bank Muscat on US$525 million term facility

Filed under AMJ Deals, AMJ News, Banking and Finance
Bank Muscat  US$525 million term facility

AMJ has advised Bank Muscat, Oman’s largest bank by assets, on a three-year term loan facility of US$525 million with a consortium of 12 relationship banks which closed on March 8. Part of the proceeds of the loan, which was coordinated by Bank ABC and National Bank of Abu Dhabi, will be used to refinance the bank’s existing term loan of US$600 million which the Bank raised in 2014. The remainder will be used for project financing and general corporate financing. Bank ABC and National Bank of Abu Dhabi PJSC acted as Joint Coordinators and Mizuho Bank as Facility Agent. […]

AMJ advises Oman government on US$5 billion bond

Filed under AMJ Deals, AMJ News, Capital Markets
Irish stock exchange

AMJ has advised the government on Omani law aspects of the country’s largest debt capital markets issue to date. The US$5 billion offering in tranches of five, 10 and 30 years was settled on 8 March 2017. The five-year tranche totalled US$1 billion, while the 10- and 30-year tranches raised US$2 billion each. The bonds were offered and sold in reliance on Rule 144A and Regulation S and were admitted to trading on the Irish Stock Exchange. Order books for the issue which marks the Sultanate’s return to the international debt capital markets after an absence of two decades, reportedly […]

AMJ partners Islamic Finance Oman Forum 2017

Filed under AMJ News, Banking and Finance, Capital Markets, Islamic Banking and Finance
Mansoor Malik IFN

AAMJ partnered the Islamic Finance News in staging a successful second Oman Forum and Dialogue at the Grand Millennium, Muscat on March 7. The day-long event gathered over 150 industry players, legal experts and stakeholders from across the Middle East, Europe and Asia in an audience with the regulators to discuss trends in Oman’s fast-growing Islamic finance industry. In the opening keynote address H.E Abdullah Salim Al-Salmi, executive president of the Capital Market Authority (CMA) announced that two private sector sukuk programmes totalling OMR 300million (US$ 780million), have received initial approval from the CMA. These sukuk programmes are the ‘first […]

Oman introduces major tax reforms

Filed under Oman Business, Oman Economy, Tax Law
Oman corporate tax

Amendments to Oman’s corporate tax law have wide-ranging implications for companies doing business in Oman as well as foreign investors including those without a permanent establishment in the country. The reforms have been in the pipeline since they were presented to the Cabinet in January 2016. They are part of a package of fiscal measures announced in February 2017 aimed at diversifying revenue resources to offset Oman’s higher than forecast budgetary deficit for 2016 due to depressed oil prices. The new rules introduced by Royal Decree 9/2017 and published in the Official Gazette on 26 February 2017, represent a radical […]