Riyadh: Sukuk and debt instruments listed on the Saudi capital market for 2024 recorded a growth of 20% compared to the previous year, reaching SAR663.5 billion. Saudi Arabia is focused on developing the sukuk and debt instruments market, which serves as a key financing channel, by regulating and enabling market activity for debt instruments.
According to Saudi Press Agency, the Capital Market Authority (CMA) issued 25 licenses for new capital market institutions, bringing the total number to 186 by the end of 2024. Additionally, revenues of capital market institutions increased by 29.6% from the previous year, reaching SAR17 billion, while their profits soared to SAR8.8 billion, reflecting a growth of 39.3% compared to the prior year.
The CMA also approved four finance-technology (fintech) models, including licenses for an investment fund distribution model, a real-estate investment fund model, the Robo-advisory model, and a model for issuing and investing in debt instruments, along with a license granted for the social trading model. By the end of 2024, the number of active fintech experiment permits reached 46.