Tadawul reduces par value of 29 domestic government debt instruments

27/06/2019 Argaam

 

The Saudi Stock Exchange (Tadawul) started reducing the par value of 29 domestic government debt instruments to SAR 1,000 from SAR 1 million.

 

Saudi Arabia launched 66 sukuk issues at a total value of SAR 292 billion, including five issues for the private sector, and the other issues go for the Saudi government.

 

“Such a step will likely boost the Saudi market, sukuk, bonds and debt instruments markets,” said Ziad Al-Khail, Chief Executive Officer & Managing Director of AlJazira Capital.

 

He added that it will also encourage issuers to list Riyal-denominated sukuk in the Saudi debt market and thus bolstering Tadawul liquidity. 

 

Reducing the par value of 29 domestic government debt instruments also comes in line with the Saudi Vision 2030, to ensure the prosperity of the Saudi nationals, he stated.

 

Al-Khail also called for providing secured high-yielding investment instruments, adding that the government’s paying the Zakat as well as the income tax imposed by the Ministry of Finance’s sukuk will further enhance global as well as domestic investments.

 

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.