The Clap
The Ministry of Finance and the National Debt Management Center signed agreements with several global banks to be the first primary international dealers of Saudi local government debt instruments.
The Deets
The ministry clarified that these international financial institutions are joining SNB, SABB, Bank Al Jazira, Alinma Bank, and Al Rajhi Bank in the primary dealer’s program.
Debt Instruments
Subscription applications in the primary market for local government debt instruments are submitted to the National Debt Management Center through the primary dealers contracted on a scheduled monthly basis.
Background
Last May, KSA revealed the completion of the linkage with Euroclear, a provider of post-trading services, on Tadawul.
This allows international investors to settle locally issued debt instruments and contributes to increasing the liquidity of local government debt instruments.
