Tadawul has started to apply the amendment of the par value of the domestic government debt instruments (sukuk) issued by the Saudi government from SR1 million ($266,640) to SR1,000 without changing the size of the issuance.
This includes 29 issuances of investment instruments issued to finance the budget. It is estimated that the size of the bond and sukuk market currently stand at about SR292 billion, representing 66 issues, including five issues for the private sector and the rest for the government.
“The future is dawning and promising opportunities are blooming,” Ziad Aba Al-Khail, CEO and managing director of Al-Jazira Capital, said. “Al-Jazira Capital is one of the first companies that provide integrated services to customers wishing to trade in sukuk and bonds through Al-Jazira Capital website for trading Tadawulcom."
Tadawulcom allows customers to purchase and sell sukuk, see prices directly online through a single screen that includes all investors requirements and execute purchase and sale orders with unprecedented flexibility, complete confidentiality and full security using a computer, tablet, or mobile app.
Al-Khail emphasized the importance of increasing citizens’ awareness about saving and investment since sukuk is considered one of the best guaranteed and risk-free investment.
He said the government’s payment of zakat and income tax on sukuk issued by the Ministry of Finance will boost domestic and international investment in it.
