Tadawul trading screen
FTSE Russell said in a statement that Saudi Arabia's sukuk will be added to its widely tracked local currency Emerging Markets Government Bond Index (EMGBI).
Inclusion of the Saudi sukuk in EMGBI was driven by the efforts made by the Kingdom’s government and other competent authorities to develop the debt instruments and sukuk market.
The inclusion will allow the Saudi sukuk and debt instruments to be part of the sukuk and debt instrument indices tracked by global investors.
FTSE Russell earlier said that Saudi Arabia’s secondary debt market will be placed on the watchlist for potential reclassification of its market accessibility level from “0” to “1”, and consideration for inclusion in the FTSE Emerging Markets Government Bond Index (EMGBI), Argaam reported.
FTSE Russell also added that any decision to upgrade fixed income markets on the watchlist to emerging markets will be taken as part of the September 2021 review.
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