Saudi Arabia Sells USD 14.4 Billion Worth of Sukuk in 2022

Saudi Arabia Sells USD 14.4 Billion Worth of Sukuk in 2022

https://islamicmarkets.com/articles/saudi-arabia-sells-usd-14-4-billion-worth-of-sukuk-in
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Sukuk sales in the domestic market of the Kingdom of Saudi Arabia (Saudi Arabia) increased by 185% in 2022 compared to 2021, reaching USD 14.4 billion, or more than half of all domestic Sukuk sales worldwide, with the Saudi government alone selling more than 60% of it.

Why it Matters?

Saudi Arabia’s borrowing needs are still going strong despite the fact that it may record its first budget surplus in almost ten years as government revenues climb as a result of a surge in oil prices above USD 100. Project financing is protecting the Sukuk market from a worldwide recession that would see Eurobond sales fall by more than half by 2022. Investor demand for local assets as a result of losses in global debt as well as central bank cash injections into banks to ea...