{"id":83024,"date":"2024-02-04T00:00:00","date_gmt":"2024-02-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/04\/retail-investors-can-now-buy-pieces-of-sovereign-sukuk\/"},"modified":"2024-02-04T00:00:00","modified_gmt":"2024-02-04T00:00:00","slug":"retail-investors-can-now-buy-pieces-of-sovereign-sukuk","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/04\/retail-investors-can-now-buy-pieces-of-sovereign-sukuk\/","title":{"rendered":"Retail investors can now buy pieces of sovereign sukuk"},"content":{"rendered":"

Good moring, wonderful people. <\/strong>We hope you had a great weekend and are looking forward to a productive week. <\/p>\n

PSA- <\/strong>We have about 35 days left until the first day of Ramadan. <\/p>\n

Things HAPPENING TODAY on which you might want to keep an eye:<\/strong><\/p>\n

<\/a> #1- FinMin, NDMC launch maiden retail saving sukuk program: <\/strong>Citizens of legal age can buy into sovereign sukuk starting today until Tuesday, 6 February, state news agency SPA<\/a> reported last week. The Finance Ministry along with the National Debt Management Center (NDMC) have launched this shariah-compliant retail saving instrument in a bid to diversify the nation\u2019s savings offerings. The sukuk will be marketed under the name Sah, short for \u201csukuk hokoumiyya\u201d in Arabic. <\/p>\n

The program will feature monthly <\/strong>issuances<\/strong> by the NDMC that carry annual fixed yields<\/strong>varying in value from month to month depending on market conditions. Every issuance matures in 12 months and has no subscription fee. <\/p>\n

The details: <\/strong>The minimum subscription amount is SAR 1k, while the maximum is SAR 200k per investor for the total duration of the program.<\/p>\n

Investors can subscribe through <\/strong>SNB, Al-Jazeera Capital, Alinma Investment, SAB Invest, and Al-Rajhi. You can find the program\u2019s issuance calendar here<\/a>.<\/p>\n

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<\/a> #2-<\/strong>Blinken kicks off his fifth regional visit since the outbreak of war in Gaza: <\/strong>US State Secretary Antony Blinken will be making visits to Saudi Arabia, Egypt, Qatar, Israel, and the West Bank starting today untilThursday, 8 February, according to a US Department of State statement<\/a>. Information about the order of the visits and with whom Blinken will be meeting wasn\u2019t made public, but we think he\u2019ll touch down in Riyadh first.<\/strong><\/p>\n

On the Agenda: <\/strong>Trying to lay the groundwork for a longer ceasefire in Gaza if Hamas releases Israeli hostages, reiterating Washington\u2019s stance on freedom of navigation in the Red Sea against the backdrop of recurring Houthi attacks, and talking up chances of a longer-term solution to the conflict between Israel and Palestine. <\/p>\n

Saudi<\/strong>-Israe<\/strong>li normalization?<\/strong> The State Department seems to be floating trial balloons to gauge Saudi reaction to a slower roll on Palestinian statehood \u2014 including watered-down Israeli commitments. The move comes after Israeli Prime Minister Benjamin Netanyahu pushed back hard on the idea of recognizing an independent Palestinian state.<\/p>\n

Iraq, Jordan aren\u2019t on itinerary:<\/strong> Three US soldiers were killed last week in a drone attack in Jordan. Iran proxy Islamic Resistance in Iraq claimed responsibility for the fatal attack.<\/p>\n

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<\/a> #3- The General Authority for Military Industries (Gami)\u2019s <\/strong>World Defense Show<\/a><\/strong>kicks off <\/strong>today in Riyadh<\/strong>and runs through Thursday. The exhibition, which aims to be a B2B event for the defense industry, will showcase global technological developments from the industry globally.<\/p>\n

WEATHER- <\/strong>Expect cooler weather and scattered clouds in Riyadh<\/strong>, heavier cloud cover in Madinah and a clear day today in AlUla. <\/p>\n