Saudi Arabia to open up bond market to retail investors – Financial Times

Saudi Arabia is seeking to open up its government bond market to retail investors as part of sweeping reforms intended to develop a savings culture.

Officials said last week that the countrys government sukuk, or Islamic bonds, would be sold in chunks of SR1,000 ($267), rather than the typical SR1m, in a move that finance minister Mohammed al-Jadaan said was designed to make it easier for retail investors and investment funds to participate in the multibillion-dollar market.

Riyadh has increased its borrowing to finance its budget deficit and help fund Crown Prince Mohammed bin Salmans economic reform programme. The debt management office has said that at the end of 2018 the government had about $150bn in overall debt, 54 per cen…

Read the full article at: https://www.ft.com/content/ded9c6e6-676a-11e9-9adc-98bf1d35a056

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