By: Mohamed Idris
Riyadh – Mubasher: Saudi Capital Market Authority (CMA) intends to organise the private placement of Sukuk and debt instruments in the capital market to raise the number of listed financial instruments, Mohammed El-Kuwaiz, vice chairman of CMA.
In his speech during the international conference of CMA and the International Bank, El-Kuwaiz noted that the authority lately intended to prepare a national programme to achieve the Kingdom's Vision 2030, by a request from Economical and Development Affairs Council.
The Ministry of Finance took a step regarding Sukuk, which is establishing an office to manage the public debt. Moreover the ministry announced that one of its plans is to place its debt instruments to be traded on the local capital market, according to El-Kuwaiz.
He added that this step will be a main support for the local debt instruments market.
Translated by: Sara Ghali
