VOL. XLVII

No 13

29-March-2004

CAPITAL MARKETS

Saudi Arabia Begins Government Bond Auctions

The Saudi Arabian Monetary Agency (SAMA) the kingdoms central bank has introduced a system of auctions for government bond issues, replacing the previous system which set yields in advance. SAMA and the Ministry of Finance have been looking at ways to develop the Saudi bond market including developing a secondary market for bond trading. The first auction took place on 8 March and followed the practice...