Mr. Fahad Al Saif, Head of the Public Debt Management Office at the Ministry of Finance, participated in the "Future of the Financial Market" session on the third day of "Future Investment Initiative", Thursday, 6 Safar 1439H, corresponding to 26 October 2017. The session was attended by His Excellency Mr. Mohammed bin Abdullah Al-Quwaiz Chairman of the Board of the Capital Market Authority and Mr. Khaled Al-Hussan, CEO of Tadawul

Mr. Saif said, during the meeting, that the Office is preparing a program to develop the liquidity of secondary markets for local bonds and sukuks, pointing out that the Kingdom has made progress by issuances of sovereign bonds, sukuks and allocating them in a balanced geographical deliberate plan to America, Europe, Britain, the Middle East and the Far East. Nonetheless, the Kingdom is working on further distribution of the offering on the East Asia to ensure a stable and diversified investment base, assuring that the Kingdom distinguishes between long-term investors and fast-earning investors.

Regarding the domestic market, Al-Saif said that the Office of Public Debt Management is planning to increase liquidity in the local secondary debt market for government sukuks and that the Office is working to coordinate with other issuers of domestic debt instruments to avoid oversupply in the local market. Mr. Al-Saif stresses that the Office aims to build a stable sovereign yield curve to be the basic indicator of fixed income instruments. Al-Saif also pointed out that the Office plans to start working with the Law of Tenders for government bonds which is based on technology and re-offering in the existing issuances.