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RIYADH: ����ֱ��’s debt instruments market surged in the second quarter of the year, led by non-listed corporate debt, which jumped 513.8 percent year on year to SR1.20 billion from roughly SR200 million. 

According to the Capital Market Authority’s quarterly statistical bulletin, traded government debt instruments climbed 132.4 percent to SR15.60 billion, compared to SR6.72 billion in the same period of 2024.

This comes as the CMA continues to introduce new investment products and structural reforms to diversify investor portfolios beyond equities. The regulator also published a consultation proposing a framework for special purpose acquisition companies on the Nomu Parallel Market to facilitate private-sector listings and expand investment vehicle options. 

“The Saudi financial market posted positive performance across a number of investment instruments by the end of the second quarter of 2025, as investors moved toward diversifying their portfolios and investment products, and not limiting themselves to equities alone, in an effort to maximize returns and reduce risks,” the CMA said. 

Individual investment portfolios in the main market rose 11.95 percent to 13.91 million, while the number of individual investors holding these portfolios increased 6.7 percent to 6.90 million. Managed portfolios climbed 29.5 percent to 103,630, with total assets up 9 percent to SR352.60 billion. 

These figures “reflect the expansion of the individual investor base and the increasing engagement with the diverse investment instruments available in the capital market,” the CMA said. 

Foreign investment in the Saudi financial market grew 1.65 percent year on year to SR481.8 billion, with foreign assets held by clients at financial institutions rising from SR21.3 billion in the first quarter to SR26.1 billion in the second quarter. 

“The increases seen in foreign markets, particularly the recent rise in the US market, were among the main reasons for the increase in asset values, as the S&P 500 index rose by more than 10 percent in the second quarter,” the authority added. 

The investment funds sector also posted strong gains. The number of funds rose 24.8 percent to 1,735, with total assets up 27.8 percent to SR781.41 billion. Subscribers climbed 30.16 percent to over 1.76 million, the highest in history, and real estate funds accounted for 31.6 percent of public subscribers and 71 percent of private subscribers. 

Listed corporate debt instruments rose 13.3 percent in traded value to SR426 million. New non-listed corporate debt issuances jumped 94.37 percent to SR3.01 billion, while outstanding issuances climbed 16.2 percent to SR124.87 billion. 

“The results confirm the strength of the Saudi capital market and its investment appeal, as the Capital Market Authority continues to develop its systems and enhance its legislative and regulatory framework in line with international best practices,” the authority said.  

“This enhances the market’s ability to attract domestic and foreign investors and supports the diversification of investment instruments, contributing to economic growth targets in line with Saudi Vision 2030,” it added. 

RIYADH: E-commerce spending in ����ֱ�� via Mada cards rose 72 percent year on year to SR25.97 billion ($6.93 billion) in June, underscoring the Kingdom’s accelerating shift to cashless retail. 

According to data by the Saudi Central Bank, also known as SAMA, the number of online payments also jumped, rising 59.4 percent to 141.55 million transactions across shopping websites, in-app purchases, and e-wallets. 

These figures exclude transactions completed on international credit card schemes such as Visa and Mastercard, highlighting the scale of domestic rails in powering the digital economy. 

Mada, the national payments scheme operated by Saudi Payments, a SAMA-owned entity, connects banks, ATMs and point-of-sale terminals, and underpins debit cards issued by local banks, making it the backbone of everyday spending and online checkout. Its deep integration across the banking system and payment gateways enables swift, secure processing for in-store and e-commerce purchases, complementing global schemes. 

This push is part of the Kingdom’s Vision 2030 drive to become a largely cashless society, raising the share of electronic retail payments and embedding trusted local rails across everyday commerce. Saudi authorities are also upgrading the rails behind the checkout button. 

Earlier this summer, SAMA launched a new e-commerce payments interface that lets providers rely on national infrastructure while integrating Mada with international networks, aimed at improving speed and security for merchants and consumers.  

In May, regulators reported near-universal connectivity: CST’s Saudi Internet Report showed 99 percent of residents are online and 93 percent of e-commerce purchases are made on local websites. 

The report also highlighted ����ֱ��’s global edge on network metrics, with average mobile data use reaching 48 gigabytes per person per month, about three times the global average. 

On the rails side, Mastercard has built local e-commerce processing infrastructure in the Kingdom, keeping transactions in-country and supporting faster, more secure checkout. 

Together, these signals point to a larger, more reliable online market in which Mada-enabled checkout, quick delivery, and easy returns are becoming the norm.  

A February PwC read on the Kingdom’s retail landscape highlighted how ����ֱ��’s young, empowered and tech-oriented consumers are reshaping demand. 

PwC’s Voice of the Consumer 2024 survey for ����ֱ�� showed rising expectations around sustainability, digital innovation, and health, with data privacy a core concern and a growing appetite for artificial intelligence-enabled shopping tools. 

Trust was highest in healthcare and aviation at eight out of 10, driven by strong data protection at 86 percent, fair treatment of employees at 80 percent, and consistent, high-quality service at 80 percent. 

Inflation remained a key worry for 36 percent, yet eco-consciousness is strengthening: About 45 percent actively seek eco-friendly products, and roughly 18 percent would pay 11 to 20 percent more for locally sourced or recycled goods. 

Shoppers are pragmatically open to technology, valuing fast chatbot support, while still wanting in-store experiences enhanced by contactless and self-checkout. 

That consumer profile dovetails with macro confidence among executives: 77 percent of Saudi CEOs were positive on the near-term economic outlook, according to PwC’s 28th Annual CEO Survey, supporting continued investment in digital commerce and customer experience. 

Partnerships are scaling logistics and payments capacity. In July, Maersk and Saudi Post signed a strategic partnership to knit together cross-border logistics with local last-mile networks, streamlining fulfillment, customs clearance and delivery for merchants entering ����ֱ�� and the wider Gulf Cooperation Council. 

DHL e-commerce expanded into the Kingdom by taking a stake in AJEX, adding domestic parcel capacity as volumes rise. And to sharpen policy and measurement, ����ֱ�� committed $1.4 million to UNCTAD to improve official statistics on e-commerce and the digital economy. 

On the checkout side, Amazon Payment Services added Tamara as a Buy Now, Pay Later partner across ����ֱ�� and the UAE, broadening flexible payment options that often lift conversion at online merchants. 

For merchants and investors, the opportunity lies in converting demand into repeatable scale. On the front end, that means optimizing mobile journeys, localized payment options, and transparent data-privacy practices that build trust with digitally sophisticated consumers.