AI Summary
The total value of Saudi-listed sukuk and bond issuances rose by 1.3% quarter-on-quarter (QoQ) to about SAR 642 billion by the end of the first quarter of 2025, according to the Saudi Exchange’s (Tadawul) Debt Market Report for Q1 2025.
Likewise, the total traded value soared 185% to nearly SAR 9.42 billion in Q1 2025, from SAR 3.31 billion in Q4 2024.
The total number of transactions, however, was down to 11,279 in the three-month period, compared to 10,273 deals a quarter earlier.
The total number of issuances of listed sukuk and bonds amounted to 59 in Q1 2025, compared to 61 in Q4 2024.
Meanwhile, the ratio of listed sukuk and bonds to GDP inched up to 15.8% in Q1 2025, from 15.6% in Q4 2024.
|
Details of Listed Sukuk & Bond Issuances |
|||
|
Period |
Value (SAR bln) |
Change (SAR bln) |
Change QoQ |
|
Q1 2020 |
358.0 |
-- |
-- |
|
Q2 |
392.2 |
+34.2 |
+10% |
|
Q3 |
393.4 |
+1.2 |
+0.3% |
|
Q4 |
387.8 |
(5.6) |
(1%) |
|
Q1 2021 |
399.9 |
+12.1 |
+3% |
|
Q2 |
423.3 |
+23.3 |
+6% |
|
Q3 |
451.7 |
+28.5 |
+7% |
|
Q4 |
461.4 |
+9.7 |
+2% |
|
Q1 2022 |
488.0 |
+26.6 |
+6% |
|
Q2 |
512.4 |
+24.4 |
+5% |
|
Q3 |
511.3 |
(1.1) |
(0.2%) |
|
Q4 |
525.3 |
+14.1 |
+3% |
|
Q1 2023 |
527.0 |
+1.6 |
+0.3% |
|
Q2 |
529.8 |
+2.8 |
+1% |
|
Q3 |
534.7 |
+5.0 |
+1% |
|
Q4 |
549.8 |
+15.1 |
+3% |
|
Q1 2024 |
564.0 |
+14.2 |
+3% |
|
Q2 |
601.7 |
+37.7 |
+7% |
|
Q3 |
610.7 |
+9.0 |
+1% |
|
Q4 |
633.5 |
+22.8 |
+4% |
|
Q1 2025 |
642.0 |
+8.5 |
+1% |
The value of listed government sukuk and bonds at the end of Q1 2025 represented about 97.4% (nearly SAR 625.4 billion) of total issuances.
Meanwhile, sukuk and bonds of listed companies accounted for 2.6% (SAR 16.5 billion) of the first-quarter total, as shown in the table below:
|
Volume of Listed Sukuk & Bond Issuances |
||||
|
Period |
Listed Gov’t Sukuk & Bonds |
Listed Firms Sukuk & Bonds |
||
|
Value (SAR bln) |
Ratio (%) |
Value (SAR bln) |
Ratio (%) |
|
|
Q1 2020 |
334.9 |
93.5% |
23.1 |
6.5% |
|
Q2 |
369.6 |
94.2% |
22.6 |
5.8% |
|
Q3 |
370.8 |
94.2% |
22.6 |
5.8% |
|
Q4 |
365.7 |
94.3% |
22.1 |
5.7% |
|
Q1 2021 |
377.8 |
4.5% |
22.1 |
5.5% |
|
Q2 |
401.3 |
94.8% |
22.0 |
5.2% |
|
Q3 |
429.7 |
95.1% |
22.0 |
4.9% |
|
Q4 |
439.8 |
95.3% |
21.6 |
4.7% |
|
Q1 2022 |
466.4 |
95.6% |
21.6 |
4.4% |
|
Q2 |
496.8 |
97.0% |
15.6 |
3.0% |
|
Q3 |
499.6 |
97.7% |
11.7 |
2.3% |
|
Q4 |
503.9 |
95.9% |
21.4 |
4.1% |
|
Q1 2023 |
505.6 |
95.9% |
21.4 |
4.1% |
|
Q2 |
509.7 |
96.2% |
20.0 |
3.8%% |
|
Q3 |
514.7 |
96.3% |
20.0 |
3.7%% |
|
Q4 |
529.8 |
96.4% |
20.0 |
3.6% |
|
Q1 2024 |
547.4 |
97.1% |
16.5 |
2.9% |
|
Q2 |
585.2 |
97.2% |
16.5 |
2.7% |
|
Q3 |
594.2 |
97.3% |
16.5 |
2.7% |
|
Q4 |
617.0 |
97.4% |
16.5 |
2.6% |
|
Q1 2025 |
625.4 |
97.4% |
16.6 |
2.6% |
In Q1 2025, Saudis owned debt instruments worth about SAR 634 billion, representing 98.8% of the total.
Foreign investors’ ownership amounted to nearly SAR 5.98 billion, while GCC investors held SAR 2 billion, as the following table shows:
|
Ownership by Nationality |
||
|
Nationality |
Value (SAR bln) |
Ratio (%) |
|
Saudis |
634.01 |
98.8% |
|
Foreigners |
5.98 |
0.9% |
|
GCC |
2.00 |
0.3% |
|
Total |
641.99 |
100% |
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