Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) announced finalising its local tap issue of Islamic bonds under the government’s SAR-denominated sukuk programme.

The issue’s volume amounted to SAR 4.85 billion, while the total volume of January issuance stood at SAR 17.92 billion, the MoF said in a statement on Tuesday.

The ministry noted that the recent sukuk issue is divided into three tranches, the statement added.

The first tranche’s value amounted to SAR 2.6 billion with a maturity date in 2023, while the second tranche stood at SAR 1.85 billion and matures in 2025.

Maturing in 2028, the third tranche’s value reached SAR 40 million, according to the ministry's statement.