Ministry of Finance, NDMC appoint Al Rajhi Bank as primary dealer of govt debt securities

Al Rajhi Bank headquarters

Saudi Arabia’s Ministry of Finance and National Debt Management Center (NDMC) signed an agreement with Al Rajhi Bank to appoint it as a primary dealer of government debt securities.

Accordingly, Al Rajhi Bank joined Alinma Bank, Bank Aljazira, Saudi National Bank (SNB), and Saudi British Bank (SABB), which were previously appointed as primary dealers.

The applications of subscription to the local government debt securities are submitted to NDMC through the contract primary dealers on a monthly basis, as per the disclosed annual lending plan.

As for the local government debt securities in the secondary market, primary dealers assume the role of market makers in cooperation with their authorized persons in accordance with the applicable regulations.