22.06.2009 - Bond and Sukuk market opened in the Kingdom
From Us-sabc.org: Saudi Arabia has opened a regulated bond and sukuk (Islamic bond) market, the latest in a series of important reforms by the Saudi Capital Market Authority (CMA) aimed at liberalizing the Kingdom’s capital markets. Analysts say the measure comes at an opportune time, as loan-to-deposit ratios are exceeding the limit imposed by the central bank, and many Saudi banks are moving toward credit capacity. Bank loans extended in 2008 equaled the total of the previous two years, according to Muhammad Al-Jasser, Governor of the Saudi Arabian Monetary Agency.........Full Article: Source
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