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The total value of Saudi-listed sukuk and bond issuances rose by 1% quarter-on-quarter (QoQ) to about SAR 610.7 billion by the end of the third quarter of this year, according to the Saudi Exchange’s (Tadawul) Debt Market Report for Q3 2024.
Likewise, the total traded value increased 32% to nearly SAR 9.34 billion in Q3 2024, from SAR 7.1 billion in Q2 2024.
The total number of transactions, however, was down to 11,104 in the three-month period, compared to 11,244 deals a quarter earlier.
The total number of issuances of listed sukuk and bonds amounted to 62 in Q3 2024, compared to 66 in Q2 2024.
Meanwhile, the ratio of listed sukuk and bonds to GDP inched up to 17.6% in Q3 2024, from 17.5% in Q2 2024.
|
Details of Listed Sukuk & Bond Issuances |
|||
|
Period |
Value (SAR bln) |
Change (SAR bln) |
Change QoQ |
|
Q1 2020 |
358.0 |
-- |
-- |
|
Q2 |
392.2 |
+34.2 |
+10% |
|
Q3 |
393.4 |
+1.2 |
+0.3% |
|
Q4 |
387.8 |
(5.6) |
(1%) |
|
Q1 2021 |
399.9 |
+12.1 |
+3% |
|
Q2 |
423.3 |
+23.3 |
+6% |
|
Q3 |
451.7 |
+28.5 |
+7% |
|
Q4 |
461.4 |
+9.7 |
+2% |
|
Q1 2022 |
488.0 |
+26.6 |
+6% |
|
Q2 |
512.4 |
+24.4 |
+5% |
|
Q3 |
511.3 |
(1.1) |
(0.2%) |
|
Q4 |
525.3 |
+14.1 |
+3% |
|
Q1 2023 |
527.0 |
+1.6 |
+0.3% |
|
Q2 |
529.8 |
+2.8 |
+1% |
|
Q3 |
534.7 |
+5.0 |
+1% |
|
Q4 |
549.8 |
+15.1 |
+3% |
|
Q1 2024 |
564.0 |
+14.1 |
+3% |
|
Q2 |
601.8 |
+37.8 |
+7% |
|
Q3 |
610.7 |
+9.0 |
+1% |
The value of listed government sukuk and bonds at the end of Q3 2024 represented about 97.3% (nearly SAR 594.2 billion) of total issuances.
Meanwhile, sukuk and bonds of listed companies accounted for 2.7% (SAR 16.5 billion) of the third-quarter total, as shown in the table below:
|
Volume of Listed Sukuk & Bond Issuances |
||||
|
Period |
Listed Gov’t Sukuk & Bonds |
Listed Firms Sukuk & Bonds |
||
|
Value (SAR bln) |
Ratio (%) |
Value (SAR bln) |
Ratio (%) |
|
|
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 % |
|
Q2 |
585.2 |
97.2 % |
16.5 |
2.8 % |
|
Q3 |
594.2 |
97.3 % |
16.5 |
2.7 % |
In Q3 2024, Saudis owned debt instruments worth about SAR 599.6 billion, representing 98% of the total.
Foreign investors’ ownership amounted to nearly SAR 7.9 billion, while GCC investors held SAR 3.2 billion, as the following table shows:
|
Ownership by Nationality |
||
|
Nationality |
Value (SAR bln) |
Ratio (%) |
|
Saudis |
599.64 |
98.2 % |
|
Foreigners |
7.88 |
1.3 % |
|
GCC |
3.20 |
0.5 % |
|
Total |
610.72 |
100% |
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