Saudi administration collects USD5B last year to become the MENA’s largest debt issuer

1/17/2023 12:58:57 AM

(MENAFN) Saudi Arabia’s administration was the Middle East and North Africa’s largest debt issuer last year as it collected USD5 billion, as shown by a report issued by worldwide provider of economic market data as well as infrastructure Refinitiv.

The Nation’s government was also in the top when it came to the release of Islamic bonds, raising USD2.5 billion.

The UAE administration was placed second in the ranking with USD3 billion, the report indicated.

Islamic bonds collected USD12.2 billion throughout the MENA area over last year, showing a seven-year decrease in addition to a 55 percent fall from two years ago.

As for sukuks, they amounted to one-third of the overall bond profits last year.

The Islamic Development Bank Trust Service has collected up to USD1.6 billion throughout the year, making it the biggest issuer of sukuk from the economic industry last year.

In total, MENA debt issuance has reached USD37.3 billion last year, indicating the worst full year overall in 12 years (2011).

MENAFN17012023000045014228ID1105437274

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.