National Debt Management Center was established in the fourth quarter of 2015 to Secure Kingdom of Saudi Arabia’s financing needs with best financing costs in the short, medium, and long term under acceptable degree of risk in compliance with the financial policies and to maintain Kingdom’s ability to access different international financial markets at fair pricing.
Vision
To be the Center of Excellence in providing sustainable funding solutions for the government.
Mission
Manage and advise on public debt, sustainable funding solutions, advisory and credit rating affairs towards the Kingdom’s economic growth and prosperity.
NDMC's Strategy
NDMC's main Goals include the following:
1. Debt Strategy
Contribute to the development of the Kingdom's public debt policy, and securing the Kingdom's financing needs in the short, medium and long term.
2. Sustainability of Financing
Maintain the Kingdom's ability to access different debt markets to issue sovereign debt instruments at fair pricing within informed foundations and frameworks of risk management.
3.
Credit Rating
Follow up on the Kingdom's credit-rating affairs in cooperation with the relevant government entities.
4. Empowerment and Support
Providing advisory services and proposing implementation plans for government entities, companies in which the government owns more than 50% of their capital, and public institutions within the scope of NDMC's competence. This includes collecting, processing, and monitoring direct and indirect public debt data, negotiating debt restructuring, repricing, or re-contracting, offering services related to hedging policies, managing investor relationships in public debt instruments, handling credit rating affairs, and other related services.
The Centre has the following mandate:
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Develop policies, plans and programs - in accordance with the statutory procedures - that would enhance the public debt policy of the Kingdom, and ensure the sustainability of the Kingdom's access to various domestic and international debt markets at fair pricing.
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Contribute to the promotion of the Kingdom's financial policy in the area of NDMC's competence, in agreement with the Ministry of Finance.
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Propose related regulations to the public debt management, and propose an amendment to the applicable regulations, and reporting them in accordance with the Statutory procedures.
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Adopt performance measures and standards of public debt levels, and indicators of the Kingdom's credit rating, and developing these indicators and standards on an ongoing basis, in cooperation with related government agencies.
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Developing the necessary tools, approaches and methods to the public debt repayment, proposing an amendment to the applicable ones, and reporting on the requirements to complete the statutory procedures, in agreement with the relevant agencies.
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Adopting the best practices of information systems and technical applications for NDMC's projects and work, including risk management, settlement and payments systems.
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Preparing periodic measuring and monitoring on the public debt situation, including risk management, compliance, evaluating funding sources and analysis their impact on the public debt portfolio.
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Coordinating with government agencies to build work teams to study credit rating details.
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Holding meetings, seminars, conferences and training courses specialized in the field of public debt, whether inside or outside the Kingdom, in a way that contributes to build and strengthen effective relationships with the financial markets' participants.
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Seeking assistance from experts, consultants and highly skilled consulting firms in the area of NDMC's competence and the tasks assigned to it.
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Concluding partnerships and cooperation agreements with relevant government agencies, to exchange experiences in the financial and monetary fields.
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Concluding memoranda of understanding and agreements with counterpart agencies in other countries and relevant international financial institutions, to exchange experiences in the field of public debt management, in accordance with the statutory procedures.
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Preparing or participating in scientific studies and researches in the fields of public debt and their developments, and publishing them.
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Disseminating public debt data to enhance transparency.
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Providing administrative and technical advice to government agencies and companies in which the government owns more than (50%) of their capital and public institutions, in the fields of pricing or structuring financing, hedging policies, investors relations, credit rating, or other related services.