Saudi CMA Approves Al Rajhi Bank’s $2.66B Debt Issuance

KSA, 2 May, 2025 : Saudi Arabia’s Capital Market Authority (CMA) has approved Al Rajhi Bank’s application to launch a 10 billion riyal ($2.66 billion) debt instrument program. The approval is valid for six months and will lapse if the first tranche isn’t issued and listed within that timeframe.

This move follows Al Rajhi Bank’s $1.5 billion sustainable sukuk issuance in January, further strengthening its funding base.

Saudi Arabia’s debt capital market is seeing strong growth, reaching SAR 1.75 trillion ($465.8 billion) by Q1 2025, with sukuk comprising over 60% of the total, according to Fitch Ratings. The market is projected to exceed $500 billion in outstanding debt by the end of 2025.