Saudi Arabia sukuk to join widely followed FTSE bond index | Reuters
FTSE Russell said on Thursday that Saudi Arabia's sukuk will be added to its widely followed local currency Emerging Markets Government Bond Index (EMGBI), effective next April.
"Index inclusion of Saudi Arabian sukuk is scheduled to start in April 2022 and is projected to comprise 2.75% of the index on a market value weighted basis," FTSE Russell said in a press release.
The sukuk, sharia-compliant Islamic bonds, have a par amount currently outstanding of 306.1 billion riyal ($81.6 billion).
India will remain on a watchlist for an upgrade to their market accessibility score and possible bond index inclusion.
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