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It comes after a rampant rise in the stock price of the Kingdom’s big lenders. “I think Saudi banks in general are in a sweet spot,” Hedi Ben Mlouka, CEO and founder of FIM partners, told Bloomberg TV on Thursday. “You are seeing growth no longer coming from a low base, we are talking big numbers here that move the balance sheet and the profitability of these banks. The ‘Shareek’ program is going to spur the first growth we have seen in corporate borrowing to support all this capex,” he said. The $2.7 trillion Shareek program was announced by the Saudi government last month and ...

DUBAI: Saudi Arabia’s debt capital market is expected to grow as the Kingdom doubles down on its Vision 2030 goals, S&P Global said. The Kingdom is banking on the increasing role of its debt and equities market in financing Vision 2030, the report said, as it seeks to attract more foreign direct investments. "We think banks will continue to play an important role in financing Vision 2030, but foresee an increased role for the local capital market," said S&P Global Ratings credit analyst Timucin Engin in the report published Tuesday. The private sector will also contribute significantly to S...

Vision 2030 to drive Saudi debt capital market: S&P DUBAI, 29 days ago Saudi Arabia's debt capital market is set to grow and take on a larger role in financing Vision 2030, S&P Global Ratings said in a new report published. To finance Vision 2030, Saudi Arabia's plan to transform and diversify its economy and grow the private sector, authorities aim to deepen their debt and equity markets to increase foreign direct investment. The strategy also entails investments by the government and its related entities as well as the private sector of about SR12 trillion ($3.2 trillion) by 2030.  "We...

S&P Sees Gulf Business Cycle Taking Several Quarters to Recover Bloomberg 2/2/2021 Reema Alothman © Bloomberg The sun sets beyond residential and commercial skyscrapers, seen from Dubai Creek Harbour Development in Dubai, United Arab Emirates, on Sunday, Sept. 6, 2020. Dubai made a rare foray into public bond markets, revealing along the way that its debt burden is now a lot smaller than estimated by analysts only months ago. (Bloomberg) -- The business cycle in Gulf countries in likely to take “several quarters at least to fully recover” from twin shocks of the coron...

Blog Blog Blog Blog 21 Dec, 2020 Author Matt SmithMohammad Abbas Taqi Landmark issuances of green instruments suggest a growing trend in the Middle East and North Africa; Lebanon's beleaguered banks prepare for another challenging year; and Kenyan lenders are set to benefit from a risk-based loan pricing model. Green financing set to grow Green sukuk and bond issuance in the Middle East and North Africa region will likely increase in 2021 as governments and state-linked companies seek to diversify their financing sources and take advantage of fallin...