Tadawul CEO says joining FTSE Russell Emerging Markets Government Bond Index to boost trading

Mohammed Al Rumaih, CEO of Tadawul

Mohammed Al Rumaih, Chief Executive Officer (CEO) of the Saudi Exchange (Tadawul), said that the Saudi market will benefit from joining the FTSE Russell Emerging Markets Government Bond Index (EMGBI) with increased trading and higher share of foreign investors in bonds and sukuk.

In an interview with CNBC Arabia, Al Rumaih said that the benefits also include putting the Saudi bond market on the corporate investor map, as it has passed the criteria for FTSE, in addition to paving the way to join additional indices.

On the listing of Tadawul, he said that work is underway on the offering file, as it was agreed with the financial advisors, pointing out that the process is going well.

Al Rumaih expects more listings in the Saudi market this year and next year, as the environment is encouraging and suitable for further IPOs.

According to data available on Argaam, FTSE Russell recently announced that the Saudi market has joined the FTSE Russell Emerging Markets Government Bonds Index.