Riyadh: The National Debt Management Center (NDMC) announced the closure of the March 2025 issuance under the Saudi Government SAR-denominated Sukuk Program, with a total allocation of SAR2.64 billion.

According to Saudi Press Agency, the first tranche of the issuance amounted to SAR364 million and is set to mature in 2027. The second tranche totaled SAR316 million and will mature in 2029. The third tranche was valued at SAR1.46 billion, with a maturity date in 2032. Additionally, the fourth tranche amounted to SAR500 million and is scheduled to mature in 2039.

The press release highlighted that this issuance is part of Saudi Arabia’s financial strategy aimed at developing the local debt market and enhancing economic diversification. This initiative aligns with the objectives of Vision 2030, a plan to reduce the country’s dependence on oil and transform its economy.