Saudi Arabia’s sukuk and bond market has recorded strong expansion, supported by a series of reforms, regulatory measures, and initiatives aimed at diversifying funding and investment channels.
According to the Vision 2030 annual report, a regulatory framework was introduced enabling licensed arranging financial institutions to issue debt instruments via securities crowdfunding platforms.
The Saudi Exchange (Tadawul) listed government debt instruments and launched bond trading, while establishing an independent sukuk and bonds index in 2018; in 2019, the Public Debt Management Office (PDMO) was transformed into the National Debt Management Center (NDMC), further supporting market development.
the National Debt Management Center, further supporting market development.
Sukuk and bond issuances increased from SAR 26.04 billion in 2026 to SAR 713.46 billion in 2025.
Sukuk and Bond Issuances (SAR bln)
Year
Value
2016
26.04
2017
24.70
2018
276.99
2019
354.50
2020
402.30
2021
461.37
2022
525.32
2023
549.84
2024
633.51
2025
713.46
This comes as part of efforts to leverage Saudi Arabia’s economic strengths, deepen capital market impact, and enhance liquidity, according to the report.
As a result, the Kingdom was placed on the watchlist for the J.P. Morgan Emerging Markets Government Bond Index (GBI-EM), while Tradeweb Markets launched the first regulated electronic platform for local bond trading in Saudi Arabia.
Fintech
Fintech represents a key opportunity to expand the financial sector’s economic, social, and commercial impact. Vision 2030’s focus on fintech has opened new avenues for startups, entrepreneurs, and innovators.
To accelerate these opportunities, the Financial Sector Development Program launched the Fintech Strategy, aimed at enabling the ecosystem through regulatory development and system enhancements.
The number of fintech companies in Saudi Arabia grew from 20 in 2019 to 301 in 2025.
Number of Fintech Companies
Year
Number of Companies
2019
20
2020
14
2021
17
2022
147
2023
216
2024
261
2025
301
Saudi Arabia’s sukuk and bond market has recorded strong expansion, supported by a series of reforms, regulatory measures, and initiatives aimed at diversifying funding and investment channels.
According to the Vision 2030 annual report, a regulatory framework was introduced enabling licensed arranging financial institutions to issue debt instruments via securities crowdfunding platforms.
The Saudi Exchange (Tadawul) listed government debt instruments and launched bond trading, while establishing an independent sukuk and bonds index in 2018; in 2019, the Public Debt Management Office (PDMO) was transformed into the National Debt Management Center (NDMC), further supporting market development.
the National Debt Management Center, further supporting market development.
Sukuk and bond issuances increased from SAR 26.04 billion in 2026 to SAR 713.46 billion in 2025.
Sukuk and Bond Issuances (SAR bln)
Year
Value
2016
26.04
2017
24.70
2018
276.99
2019
354.50
2020
402.30
2021
461.37
2022
525.32
2023
549.84
2024
633.51
2025
713.46
This comes as part of efforts to leverage Saudi Arabia’s economic strengths, deepen capital market impact, and enhance liquidity, according to the report.
As a result, the Kingdom was placed on the watchlist for the J.P. Morgan Emerging Markets Government Bond Index (GBI-EM), while Tradeweb Markets launched the first regulated electronic platform for local bond trading in Saudi Arabia.
Fintech
Fintech represents a key opportunity to expand the financial sector’s economic, social, and commercial impact. Vision 2030’s focus on fintech has opened new avenues for startups, entrepreneurs, and innovators.
To accelerate these opportunities, the Financial Sector Development Program launched the Fintech Strategy, aimed at enabling the ecosystem through regulatory development and system enhancements.
The number of fintech companies in Saudi Arabia grew from 20 in 2019 to 301 in 2025.
Number of Fintech Companies
Year
Number of Companies
2019
20
2020
14
2021
17
2022
147
2023
216
2024
261
2025
301
