On 10 November, the Government of Oman's (Ba3 negative) Ministry of Finance announced a OMR25 million ($65 million) sukuk issuance, the government’s first sukuk issuance available to retail investors1 . The issuance is credit positive for Oman's Islamic banks and conventional banks' Islamic windows,2 and the government's issuance of sukuk to retail investors increases Islamic finance penetration and awareness among the population and provides banks with Shari’ah-compliant instruments for liquidity management.