The Saudi Capital Markets Authority (CMA) isn’t ready to pull the plug on its support for corporate borrowers just yet. The fee waivers for Tadawul and Edaa service charges have been extended through the end of 2027, Argaam reports. The waiver reduces debt instrument offering costs by up to SAR 400k per public offering and as much as SAR 60k per private placement.

The details: The waiver applies to non-government issuers with an active publicly-disclosed credit rating from a CMA-licensed agency. It covers up to two issuances per issuer for both public debt offerings and private placements, though the private placements cannot exceed SAR 500 mn to qualify. Total waived fees are capped at SAR 5 mn per year.

Why it matters

Private-sector issuance is still modest at about USD 7 bn, but S&P Global expects it to gradually pick up as capital markets deepen and companies look for longer-dated, fixed-rate funding beyond bank loans. The CMA’s debt fee waiver is meant to accelerate that shift — coming just as Vision 2030 spending of USD 85-95 bn between 2025 and 2027 pushes domestic firms into heavier funding cycles.

IN CONTEXT- First rolled out in 2020, the waiver was set to expire in 2025 and covers service fees charged by Tadawul, the Saudi exchange, and Edaa, the securities depository. Since then, outstanding issuances climbed to 118 by end-2025 from 32 in 2021, while total market value grew from about SAR 90 bn to SAR 132 bn. Trading also picked up over the same period, with turnover in listed debt rising to more than 9% from just 0.46%.

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