Saturday , October 1 2022

News 24 For the first time in the history of the kingdom .. "Finance" announces Sucuk's first public offering for 30 years on the domestic market


Ministry of FinanceThe Treasury announced the first public offering of sukuk in the history of the kingdom for 30 years in 2049.

The ministry represented by the Public Debt Management Office announced the end of the fourth issue of the current 2019, which exceeds 15 years, an additional maturity of the issue last month and twenty years compared to 2018 issues.

She pointed out that the 30-year issue is a new measure of the index of privatized private sector exporters to be guided by return prices in addition to creating market demand within such terms that will create a new source of funding , especially in the light of the transformation of the royal economy and the need for it. This type of funding can be used to support development projects, infrastructure and real estate suppliers and savings products to form this point as a freak rate on which the pricing models are based.

This new proposal is complementary to the achievement of one of the objectives of the Office of Creating a Sustainable Return Curve to Generate Refundable Prices for Different Debt Instruments to Improve the Pricing Policy of Government Securities and Create Reference Points for the Private Sector and the public sector.

The Government Debt Management Service has completed the receipt of investors' requests for issuance of the domestic market in April 2019 under the Saucite Government's Sucuk Program in the Saudi Republic, with a total volume of issuance of 11.619 billion SR.

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