Listing Saudi Sukuk on FTSE Russell is a new success for Vision 2030


The Saudi Minister of Finance, Muhammad Al-Jadaan, described the inclusion of the Saudi sukuk and debt instruments market in the “FTSE Russell” index of government bonds for emerging markets, as a new success for the series of successes of Vision 2030 and under the umbrella of one of the vision programs, the Financial Sector Development Program, according to a tweet on his account in Twitter”.

FTSE Russell said that Saudi sukuk will be added to its index Emerging market government bonds in local currency, which is widely followed, as of April 2022.

FTSE Russell stated that 42 bonds worth 306.1 billion Saudi riyals ($81.6 billion) are expected to be included in the index, and will constitute 2.75% of it on the basis of a weighted market value, according to “Reuters”.

FTSE Russell indicated that the actual impact of the upgrade of the index will appear from April 2022.

Thus, Saudi Arabia becomes the 17th country to join FTSE Russell’s second most important index, which measures the performance of emerging market government bonds denominated in local currencies. At the same time, it is the sixth Asian country to organize the index, which includes countries such as China and Russia.

The National Center for Debt Management in Saudi Arabia had announced in mid-September the completion of receiving investor requests for its local issuance for the same month, under the government’s sukuk program denominated in Saudi riyals, where the issue size was set at a total amount of 6.675 billion riyals.


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