Saudi Finance Minister Ibrahim Al-Assaf said on Dec. 30 that he expected more sukuk, or Islamic debt, for the planned expansion of Riyadh and Jeddah airports. Government agencies with “the ability to generate income and operate commercially” are well-placed to issue bonds, al-Assaf said in May.
The kingdom’s General Authority of Civil Aviation, or GACA, sold 15 billion riyals ($4 billion) of Islamic bonds in January last year. Saudi Arabia issued the most bonds last year in the Middle East at $6.3 billion, followed by Qatar at $4 billion, according to data compiled by Bloomberg………………………………………..Full Article: Source