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Saudi Arabia: No bond issue planned

Posted on 06 October 2009

From Arabnews.com: Finance Minister Ibrahim Al-Assaf said Monday that Saudi Arabia has no plans to issue sovereign bonds. “Government bonds are issued when there is a need for them. Thank God, lately there has been no need to issue bonds or sukuk,” he said.

Analysts have said that the Kingdom does not need to borrow as it has accumulated large reserves from crude exports. However, they pointed out that a sovereign bond would help the nascent Saudi market of bonds, both Islamic and conventional. With no sovereign bond to set a benchmark, secondary bond trading has been lackluster since the market’s launch in June……………..Full Article: Source

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