Login Get Started
HelpDesk
Saudi Arabia Closes February 2021 Domestic Sukuk Issuance Worth SAR 3.16 Billion: Ministry of Finance

Saudi Arabia Closes February 2021 Domestic Sukuk Issuance Worth SAR 3.16 Billion: Ministry of Finance

February 18, 2021 | Updated at February 19, 2021

http://islamicmarkets.com/articles/saudi-arabia-closes-february-2021-domestic-sukuk-issuance-worth-sar
Copy URL

By IM Insights

In a statement released on the 17th of February 2021, Saudi Arabia’s National Debt Management Center, announced that it had closed the February 2021 Sukuk issuance worth SAR 3.16 billion (USD 840 million) under the  Government of Saudi Arabia’s SAR-denominated Sukuk programme.

Why it matters?

According to Bashar Al-Natoor, Global Head of Islamic Finance at Fitch Ratings, this announcement gives prominence to Saudi Arabia’s role as a leader of the global Islamic finance sector, with this set to continue through 2021.

A December 2020 report by the Islamic Development Bank, stated that global Islamic finance assets are forecast to reach USD 3.69 trillion by 2024. This value stood at USD 2.88 trillion in 2019, up 14% year-on-ye...