Vision 2030: Debt issuances hit SAR 713B; Fintech firms reach 301

Saudi Arabia’s sukuk and bond market has recorded strong expansion, supported by a series of reforms, regulatory measures, and initiatives aimed at diversifying funding and investment channels.

According to the Vision 2030 annual report, a regulatory framework was introduced enabling licensed arranging financial institutions to issue debt instruments via securities crowdfunding platforms.

The Saudi Exchange (Tadawul) listed government debt instruments and launched bond trading, while establishing an independent sukuk and bonds index in 2018; in 2019, the Public Debt Management Office (PDMO) was transformed into the National Debt Management Center (NDMC), further supporting market development.

the National Debt Management Center, further supporting market development.

Sukuk and bond issuances increased from SAR 26.04 billion in 2026 to SAR 713.46 billion in 2025.

This comes as part of efforts to leverage Saudi Arabia’s economic strengths, deepen capital market impact, and enhance liquidity, according to the report.

As a result, the Kingdom was placed on the watchlist for the J.P. Morgan Emerging Markets Government Bond Index (GBI-EM), while Tradeweb Markets launched the first regulated electronic platform for local bond trading in Saudi Arabia.

Fintech

Fintech represents a key opportunity to expand the financial sector’s economic, social, and commercial impact. Vision 2030’s focus on fintech has opened new avenues for startups, entrepreneurs, and innovators.

To accelerate these opportunities, the Financial Sector Development Program launched the Fintech Strategy, aimed at enabling the ecosystem through regulatory development and system enhancements.

The number of fintech companies in Saudi Arabia grew from 20 in 2019 to 301 in 2025.