The National Debt Management Center
The Ministry of Finance announces that it has closed the September 2019 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The issuance size was set at SAR 8.834 billion.signed a Memorandum of Understanding (MoU) with Tarmeez Capital Company at the Center's headquarters in Riyadh on Thursday, December 5
At the signing of the MoU, the National Debt Management Center was represented by its CEO, Mr. Hani Almedaini, and Tarmeez Capital Company was represented by its CEO, Eng. Nasser Al-Saadoun.
- The first tranche has a size of SAR 1.400 billion, and a total tranche size of SAR 4.648 billion, matures in 2028.
This MoU aligns with the NDMC's efforts to enhance collaboration with the private sector to develop and launch new government-supported savings products. The initiative seeks to increase the percentage of individuals who save regularly in the Kingdom, diversify and expand the range of available savings products and facilitate its access. This falls under the initiatives associated with the Financial Sector Development Program, one of the Saudi Vision 2030 programs, which focuses on enhancing and enabling financial planning.- The second tranche has a size of SAR 1.185 billion, and a total tranche size of SAR 11.012 billion, matures in 2031.
- The Third tranche has a size of SAR 6.249 billion, and a total tranche size of SAR 15.496 billion, matures in 2049.