The Ministry of Finance and the National Debt Management Center signed agreements with Albilad Investment Company, AlJazira Capital Company, Al Rajhi Capital Company, Derayah Financial Company, and Saudi Fransi Capital Company، to appoint them as distribution primary dealers in the government's local debt instruments. The institutions will join the other five local institutions, namely, the Saudi National Bank, the Saudi Awwal Bank (SAB), AlJazira Bank, Alinma Bank, and AlRajhi Bank as well as the five international institutions, namely, BNP Paribas, Citigroup, Goldman Sachs, J.P. Morgan, and Standard Chartered Bank.
The agreements confirm the role of the National Debt Management Center in enhancing and sustaining the access to local debt markets through diversifying investors base.
It is noteworthy that applications for subscription in the primary market for the government's local debt instruments are submitted to the National Debt Management Center through the appointed primary dealers on a scheduled monthly basis where these dealers receive the applications submitted by investors.