The launch of Saudi Arabia’s first domestic sukuk programme shows that the
country’s investors and regulator are growing more
comfortable with the instrument, according to counsel on the
Almarai’s landmark SAR2.3 billion
($613 million) programme was established on March 29, and
included an inaugural issuance of SAR1 billion. The issue was
privately placed with Saudi investors.
Bilal Kahlon of Baker & McKenzie in Bahrain, who...