º£½ÇÖ±²¥ raises $1.42bn in August sukuk issuance

Sukuk are Shariah-compliant instruments that grant investors partial ownership in underlying assets, offering a popular alternative to conventional bonds. Shutterstock
Short Url

RIYADH: º£½ÇÖ±²¥â€™s National Debt Management Center raised SR5.31 billion ($1.42 billion) through its riyal-denominated sukuk issuance for August, marking a 5.8 percent increase from July.

The Kingdom had raised SR5.02 billion in July, while issuances stood at SR2.35 billion in June and SR4.08 billion in May.

Sukuk are Shariah-compliant instruments that grant investors partial ownership in underlying assets, offering a popular alternative to conventional bonds.

The August issuance was split into four tranches: SR755 million maturing in 2029, SR465 million in 2032, SR1.12 billion in 2036, and SR2.97 billion in 2039.

The NDMC, in a statement, said the latest offering reflects ongoing efforts to diversify funding sources and strengthen the domestic debt market.

A recent report by Kuwait Financial Centre, also known as Markaz, showed º£½ÇÖ±²¥ led the Gulf region’s primary debt market in the first half of 2025, raising $47.9 billion through 71 bond and sukuk deals — 52.1 percent of the GCC total.

Global ratings agency S&P has also highlighted the Kingdom’s role in driving Islamic finance, projecting global sukuk issuance to reach $190 billion to $200 billion in 2025, with as much as $80 billion in foreign currency offerings.