Logo of National Debt Management Center (NDMC)
Saudi Arabia’s Ministry of Finance and the National Debt Management Center (NDMC) signed agreements with Albilad Capital, Al Jazira Capital, Al Rajhi Capital, Derayah Financial, and Saudi Fransi Capital, appointing them as primary dealers for distributing local government debt instruments.
NDMC noted that these institutions would join the local financing entities already enrolled in the primary dealer program, including Saudi National Bank (SNB), Saudi British Bank (SAB), Bank AlJazira, Alinma Bank, and Al Rajhi Bank, in addition to foreign entities such as BNP Paribas, Citigroup, Goldman Sachs, JPMorgan, and Standard Chartered Bank.
These agreements affirm efforts to ensure the sustainability and enhancement of access to local debt markets by diversifying the investor base, NDMC added.
Subscription requests for local government debt instruments in the primary market are submitted to the NDMC through the appointed primary dealers on a scheduled monthly basis. These dealers are responsible for receiving investor applications.
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