The Ministry of Finance has announced the appointment of Fahad Al-Saif as Head of the Debt Management Office (DMO) and Advisor to the Minister of Finance.

The Minister of Finance, Mohammed Al-Jadaan, wished Al-Saif success in continuing to build capacity and skills to consolidate the Office's presence in international debt markets in order to support the aspirations of the Kingdom's Vision 2030 and contribute to strengthening its position as a leading global investment powerhouse.

During his banking career, Al-Saif held several positions at SABB, including as Deputy Managing Director, General Manager of Global Banking and Markets, and Head of Treasury Risk Advisory. During his tenure at HSBC, he held the positions of Head of Capital Markets and Corporate Finance, and Head of Debt Capital Markets.  He joined the DMO as a Supervisor in 2016 and participated in the Task Force responsible for issuing the Kingdom’s first Global Bond Program.

In 2016, the Kingdom of Saudi Arabia issued US$ 17.5 billion in international bonds, the largest emerging market issuance ever. The transaction received the SSAR Issuer of the Year, Bond Issuer of the Year and Emerging EMEA Issuer of the Year awards from the International Financing Review. 

Also in 2016, the Kingdom secured a landmark US$ 10 billion loan for which it received the Middle Eastern Deal of the Year Award from GlobalCapital.

The DMO was successful in issuing The Kingdom’s first international Sukuk in April this year, securing a total of US$ 33 billion (SAR 123.75 billion) in orders for the US$ 9 billion issue.

The DMO is responsible for securing the Kingdom's financing needs on the best possible terms.

The DMO plays a key role in the implementation of structural, economic and financial reforms in line with the National Transition Program and the Vision 2030.