Friday, June 21, 2024
Today’s News

Saudi Exchange Accepts Displaying of $12.08 Billion in Government Debt Instruments.

RIYADH: The Saudi stock exchange has approved the listing of SR45.28 billion ($12.08 billion) in government debt instruments submitted by the Ministry of Finance.

According to a Tadawul statement, the exchange approved increasing the issuance of a government debt instrument on April 7 from SR15.98 billion to SR17.63 billion. Similarly, the bourse approved increasing the value of another instrument, dated April 1, from SR29.29 billion to SR38.53 billion.

According to Tadawul, the listing began on May 27. On May 23, the exchange approved the Ministry of Finance’s request to list Saudi government debt instruments worth SR18.84 billion. The trading of these debt instruments will begin on May 27.

In April, credit-rating agency S&P Global predicted that global sukuk issuance would range between $160 billion and $170 billion in 2024. The US-based firm also stated that the issuance of this debt product began on a solid footing in 2024, with Saudi Arabia playing a key role in the performance.

Another study released in April by Fitch Ratings echoed similar sentiments, stating that global sukuk issuance is expected to continue its rapid growth in the coming months, fueled by economic diversification efforts and debt market development.

Also Read:

Saudi Fashion Industry is Expected to Expand by 48% by 2025. 

Zambian Firm Opens Dhs130 Million Facility in Dubai Industrial City.

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