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English news

11-Oct-2016

Tadawul to trade government debt, Finance Ministry says

Saudi Arabia will trade government bonds on its stock exchange, according to the Finance Ministry.  Bonds will be registered, listed and traded on the exchange's platform gradually, the Ministry said without giving details or elaboration on whether the planned international bond issuance could be listed on the exchange as well. Since late 2015, the government has offered cSAR20bn (USD5.3bn) of domestic bonds to local banks every month, but the banks have found it increasingly challenging to buy all the bonds, as cheap oil has tightened liquidity. (Reuters)

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