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RIYADH: Saudi Arabia’s National Debt Management Center has won a top industry award after the Kingdom’s sukuk issuance rose 37 percent in a year.
The NDMC was named the Sovereign Treasure and Funding Team of the Year at the Annual Bonds, Loans and Sukuk Middle East awards ceremony in Dubai on June 8.
The award came after sukuk issuance hit $36.9 billion in 2021.
An NDMC statement said that the honor signifies Saudi Arabia's ability to meet investors' expectations, and recognition for the efforts in developing the local debt market.
On May 25, the NDMC announced the closure of issuance under the Saudi Arabian Government SrR-denominated Sukuk Program which was set at SR14.9 billion.