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The total value of Saudi-listed sukuk and bond issuances rose by 3% quarter-on-quarter (QoQ) to about SAR 563.96 billion by the end of Q1 2024, according to the Saudi Exchange’s (Tadawul) Debt Market Report for the quarter.
In Q1 2024, total traded value fell by 61% to nearly SAR 1.85billion from SAR 4.7billion in Q4 2023.
The total number of transactions was down6% to 12,003in the three-month period, compared to 12,769 a quarter earlier.
The total number of issuances of listed sukuk and bonds amounted to 67 in Q1 2024, compared to 66 in Q4 2023.
Meanwhile, the ratio of listed sukuk and bonds to GDP rose to 14.14% in Q1 2024, from 13.78% in Q4 2023.
The following table shows the volume of sukuk and bond issuances listed on Tadawul since Q1 2020:
|
Volume of Listed Sukuk and Bond Issuances |
|||
|
Period |
Value (SAR bln) |
Change (SAR bln) |
QoQ Change |
|
Q1 2020 |
358.00 |
-- |
-- |
|
Q2 |
392.20 |
+34.2 |
+10% |
|
Q3 |
393.43 |
+1.2 |
+0.3% |
|
Q4 |
387.84 |
(5.6) |
(1%) |
|
Q1 2021 |
399.92 |
+12.1 |
+3% |
|
Q2 |
423.25 |
+23.3 |
+6% |
|
Q3 |
451.70 |
+28.5 |
+7% |
|
Q4 |
461.37 |
+9.7 |
+2% |
|
Q1 2022 |
488.00 |
+26.6 |
+6% |
|
Q2 |
512.36 |
+24.4 |
+5% |
|
Q3 |
511.25 |
(1.1) |
(0.2%) |
|
Q4 |
525.32 |
+14.1 |
+3% |
|
Q1 2023 |
526.95 |
+1.6 |
+0.3% |
|
Q2 |
529.76 |
+2.8 |
+1% |
|
Q3 |
534.72 |
+5.0 |
+1% |
|
Q4 |
549.84 |
+15.1 |
+3% |
|
Q1 2024 |
563.96 |
+14.1 |
+3% |
The value of government-listed sukuk and bonds at the end of Q1 2024 represented about 97.1%, or nearly SAR 547.4billion, of the total issuances of sukuk and bonds.
Meanwhile, sukuk and bonds of listed companies accounted for 2.9%, or SAR 16.5billion, in Q1 2024, as shown in the table below:
|
Volume of Listed Sukuk& Bond Issuances by Type |
||||
|
Period |
Government-Listed Sukuk& Bonds |
Sukuk& Bonds of Listed Companies |
||
|
Value (SAR bln) |
Ratio to Total |
Value (SAR bln) |
Ratio to Total |
|
|
Q1 2020 |
334.9 |
93.5% |
23.1 |
6.5% |
|
Q2 |
369.6 |
94.2% |
22.6 |
5.8% |
|
Q3 |
370.8 |
94.2% |
22.6 |
5.8% |
|
Q4 |
365.7 |
94.3% |
22.1 |
5.7% |
|
Q1 2021 |
377.8 |
4.5% |
22.1 |
5.5% |
|
Q2 |
401.3 |
94.8% |
22.0 |
5.2% |
|
Q3 |
429.7 |
95.1% |
22.0 |
4.9% |
|
Q4 |
439.8 |
95.3% |
21.6 |
4.7% |
|
Q1 2022 |
466.4 |
95.6% |
21.6 |
4.4% |
|
Q2 |
496.8 |
97.0% |
15.6 |
3.0% |
|
Q3 |
499.6 |
97.7% |
11.7 |
2.3% |
|
Q4 |
503.9 |
95.9% |
21.4 |
4.1% |
|
Q1 2023 |
505.6 |
95.9% |
21.4 |
4.1% |
|
Q2 |
509.7 |
96.2% |
20.0 |
3.8 % |
|
Q3 |
514.7 |
96.3% |
20.0 |
3.7 % |
|
Q4 |
529.8 |
96.4% |
20.0 |
3.6 % |
|
Q1 2024 |
547.4 |
97.1% |
16.5 |
2.9% |
Saudis owned debt instruments worth about SAR 558.1 billion, representing 99% of the total.
Meanwhile, foreign and GCC ownerships of debt instruments reached SAR 4.6 billion and SAR 1.2 billion, respectively, as indicated below:
|
Ownership by Nationality |
||
|
Nationality |
Value (SAR bln) |
Ratio to Total |
|
Saudis |
558.12 |
99.0% |
|
Foreigners |
4.62 |
0.8% |
|
GCC |
1.22 |
0.2% |
|
Total |
563.96 |
100% |
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