Saudi Arabia Said to Weigh Opening Nation’s Debt Markets - Bloomberg:
"Banks with experience arranging Islamic bond sales may stand to benefit from the potential opening of Saudi Arabia’s debt market to foreign investors, according to the investment banking unit of Mashreqbank PSC. (MASQ)
“There’ll be a lot of potential for non-Saudi banks to get involved on the advising and arranging side,” Abdul Kadir Hussain, who oversees about $700 million as chief executive officer of Mashreq Capital DIFC Ltd. in Dubai, said by telephone. “They’re also some of the biggest sukuk buyers.”
Saudi Arabia is working on new rules aimed at promoting the local currency bond and sukuk market, three people with knowledge of the matter said yesterday. The rules are expected to allow foreign investors to buy local currency bonds for the first time and could be published early next year, they said."
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