Bankers, thought-leaders and government officials will attend one of the most important regional financial events of 2013, the Ministry of Finance/Euromoney Saudi Arabia Conference. The conference will examine the Kingdom’s increasingly high-profile role as a regional and global financial power.
One of the key areas under discussion will be the role of Sukuk, the Islamic equivalent of bonds, in the development of debt capital markets.
The rate of Sukuk issuance accelerated significantly throughout 2012 and into 2013, particularly as new players entered the market. According to KFH, Saudi Arabia issued USD 10.5 billion in Sukuk in 2012, representing a 278 percent year-on-year increase, positioning the Kingdom as the second major global issuer of Sukuk after Malaysia.
The amounts raised through Sukuk are also becoming more substantial – total Sukuk issuance in the Gulf increased to USD 24 billion last year.
In a major panel discussion held at the event, the issues of Saudi Sovereign Sukuk and how the Sukuk market fits into the Kingdom’s government plans for economic development will be analysed. The panel will review the progress of Sukuk in Saudi Arabia in 2013, and will review the pipeline for 2013 as well as the emerging yield curve.
Richard Banks, Director, Emerging Markets, Euromoney Conferences, said: “The major areas of focus for the Euromoney Conference will be government finance, corporate finance, and the financial system structure, and all three are strong associated with rise of Sukuk and the wider development of the Islamic financial industry. 2012 marked a significant step-change in the rate of Sukuk issuance, and it’s important that we evaluate what this means for the Kingdom of Saudi Arabia and the wider financial sector.”
The Ministry of Finance/Euromoney Saudi Arabia Conference, taking place in Riyadh on 7-8 May at Al Faisaliah Hotel, is the oldest and biggest financial conference in Saudi Arabia.
Reflecting the importance of the discussion, confirmed keynote speakers include:
– H.E. Dr. Ibrahim Al-Assaf, Minister of Finance, Kingdom of Saudi Arabia
– H.E. Dr. Shwaish Al-Duwaihi, Minister of Housing, Kingdom of Saudi Arabia
– H.E. Dr. Muhammad Al-Jasser, Minister of Economy and Planning, Kingdom of Saudi Arabia
– H.E. Dr. Tawfig Al-Rabiah, Minister of Commerce and Industry, Kingdom of Saudi Arabia
– H.E. Eng. Abdullatif Al-Othman, Governor and Chairman of the Board of Directors, SAGIA
– H. E. Dr. Mohamad Al-Sheikh, Chairman, Capital Markets Authority.
The Euromoney Saudi Arabia Conference is being held in partnership with the Ministry of Finance, with lead sponsors including Aseer, BNP Paribas, Gulf International Bank, HSBC & NCB.
