Saudi Arabia's home finance co Bidaya announces debut sukuk programme | ZAWYA MENA Edition

Saudi Arabia's home finance co Bidaya announces debut sukuk programme | ZAWYA MENA Edition:

"Saudi Arabia's Bidaya Home Finance (BHF), partly owned by the Saudi sovereign wealth fund Public Investment Fund, has established a 500 million riyals ($133.33 million) inaugural sukuk programme, it said on Wednesday. The Riyadh-based company aims to make home financing more readily available by offering sharia-compliant financing products to Saudi retail customers in a country with low levels of home ownership. Saudi Arabia's housing ministry said on Wednesday that it has raised the target for the local mortgage market to reach a total volume of 502 billion riyals by 2020 from a current 290 billion riyals, as the country implements various measures to stimulate mortgage lending and home purchases."



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