Saudi Sukuk Included in JPMorgan Emerging Markets Bond Index
JPMorgan has announced the inclusion of Saudi government Sukuk in its emerging markets index, a move aimed at boosting liquidity and expanding the investor base.
Saudi Arabia is set to mark a significant financial milestone with the inclusion of its government Sukuk in the JPMorgan Emerging Markets Bond Index. The phased inclusion process is scheduled to begin early next year and will span ten months.
The decision covers eight Saudi Sukuk issuances with a total value of 79 billion dollars. This initiative is designed to broaden the investor base for local debt instruments and enhance market liquidity.
Saudi Minister of Finance, Mohammed Al-Jadaan, stated that this move will enhance the international competitiveness of the local debt market, noting that it aligns with the financial sector development programs under the Kingdom's Vision 2030.
The Kingdom's weight in the index is expected to exceed two percent upon the completion of the process. This development underscores the confidence of global investors in the efficiency of the Saudi economy and its financing tools.