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The total value of Saudi-listed sukuk and bond issuances rose by 3% quarter-on-quarter (QoQ) to about SAR 549.8 billion by the end of Q4 2023, according to the Saudi Exchange’s (Tadawul) Debt Market Report for the quarter.
In Q4 2023, total traded value increased by 67% to nearly SAR 4.70 billion from SAR 2.82 billion in Q3 2023.
The total number of transactions was up 11% to 12,769 in the three-month period, compared to 11,489 deals a quarter earlier.
The total number of issuances of listed sukuk and bonds amounted to 66 in Q4 2023, compared to 67 in Q3 2023.
Meanwhile, the ratio of listed sukuk and bonds to GDP rose to 13.81% in Q4 2023, from 13.54% in Q3 2023.
The following table shows the volume of sukuk and bond issuances listed on Tadawul since Q1 2020:
|
Volume of Listed Sukuk and Bond Issuances |
|||
|
Period |
Value (SAR bln) |
Change (SAR bln) |
QoQ Change |
|
Q1 2020 |
358.00 |
-- |
-- |
|
Q2 |
392.20 |
+34.2 |
+10% |
|
Q3 |
393.43 |
+1.2 |
+0.3% |
|
Q4 |
387.84 |
(5.6) |
(1%) |
|
Q1 2021 |
399.92 |
+12.1 |
+3% |
|
Q2 |
423.25 |
+23.3 |
+6% |
|
Q3 |
451.70 |
+28.5 |
+7% |
|
Q4 |
461.37 |
+9.7 |
+2% |
|
Q1 2022 |
488.00 |
+26.6 |
+6% |
|
Q2 |
512.36 |
+24.4 |
+5% |
|
Q3 |
511.25 |
(1.1) |
(0.2%) |
|
Q4 |
525.32 |
+14.1 |
+3% |
|
Q1 2023 |
526.95 |
+1.6 |
+0.3% |
|
Q2 |
529.76 |
+2.8 |
+1% |
|
Q3 |
534.72 |
+5.0 |
+1% |
|
Q4 |
549.84 |
+15.1 |
+3% |
The value of government-listed sukuk and bonds at the end of Q4 2023 represented about 96.4%, or nearly SAR 529.8 billion, of the total issuances of sukuk and bonds.
Meanwhile, sukuk and bonds of listed companies accounted for 3.6%, or SAR 20 billion, in Q4 2023, as shown in the table below:
|
Volume of Listed Sukuk & Bond Issuances by Type |
||||
|
Period |
Government-Listed Sukuk & Bonds |
Sukuk & Bonds of Listed Companies |
||
|
Value (SAR bln) |
Ratio to Total |
Value (SAR bln) |
Ratio to Total |
|
|
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 |
94.5% |
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 |
529.80 |
96.4% |
20.0 |
3.6% |
Saudis owned debt instruments worth about SAR 541.1 billion, representing 98% of the total.
Meanwhile, foreign ownership of debt instruments rose 80% to SAR 7.5 billion, from SAR 4.2 billion in Q3 2023, as indicated below:
|
Ownership by Nationality |
||
|
Nationality |
Value (SAR bln) |
Ratio to Total |
|
Saudis |
541.15 |
98.4% |
|
Foreigners |
7.49 |
1.4% |
|
GCC |
1.21 |
0.2% |
|
Total |
549.84 |
100% |
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