Saudi Arabia Issues USD 755 Million SAR-Denominated Sukuk; Marks First Issuance in 2022

The Saudi government has commenced the year with the issuance of Riyal-Denominated Sukuk worth SAR 2.83 billion (USD755 million) as part of its Riyal-Denominated Sukuk programme, according to an announcement by the National Debt Management Centre (NDMC) on the 18th of January 2022. The issuance comes in two tranches, the first tranche, maturing in 2030, is valued at SAR 1.25 billion, while the second tranche, maturing in 2034, is valued at SAR 1.59 billion.

Why it Matters?

The Sukuk programme was established by the Finance Ministry through the NDMC in July 2017. In 2021, Saudi Arabia had collected a total amount of SAR 75.2 billion (USD 20 billion) of Sukuk in monthly issuances. According to the ministry’s latest quarterly budget report for 2021,...