RIYADH: Saudi Arabia’s government offered SR-denominated Sukuk worth SR614.179 million ($164 million) for the November issuance, Arab News quoted the National Debt Management Center (NDMC), as saying in a statement.

The issuance comes under the Saudi Arabian government SR-denominated Sukuk programme.

The kingdom collected a total amount of SR74.2 billion of Sukuk in monthly issuances for the previous 10 months. Now, the country obtained a total value of SR74.8 billion financing from Sukuk.

In an information memorandum, dated July 20, 2017, the Saudi’s Ministry of Finance, acting through NDMC, announced the establishment of an unlimited SR-denominated Sukuk Issuance Programme.

The memorandum was updated on July 21, 2020. It also said that the ministry will issue and offer Sukuk to investors at its discretion.

The kingdom’s public debt stood at SR948.3 billion at the end of this year’s third quarter, according to the MoF’s latest quarterly budget report.

Domestic debt accounted for 59.1 per cent, while external debt stood at 40.9 per cent of the debt.

In its pre-budget statement for 2022, the MoF predicted that the public debt will reach SR989 billion next year.