Saudi Arabia mulls savings sukuk for citizens, SMEs

21/11/2017 Argaam

Saudi Arabia’s finance ministry is considering issuance of savings sukuk for nationals and small and medium enterprises (SMEs), Fahad Al-Saif, the head of the Kingdom’s Debt Management Office (DMO) said on Monday.

 

The DMO is planning to introduce an auction system for government bonds and re-offer the existing issues.

 

The move will come as part of DMO’s efforts to develop the public debt market through building a domestic, diversified and profound base for capital markets, Al-Saif added on the sidelines of the KFUPM Islamic banking and finance research conference.

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