Business & Money | Sunday 22 December, 2019 2:22 pm |

Bidaya Home Finance ("Bidaya") has successfully launched SAR 300 million 2 year Sukuk under its recently established SAR 1.0 billion Sukuk programme.

“Bidaya again sets the Saudi mortgage finance industry benchmark by issuing our 4th Sukuk in the domestic Sukuk market. It is a testament to our performance and the level of trust investors have in Bidaya.” said Bidaya's CEO, Mazin Al Ghunaim. “We remain committed to providing attractive home finance solutions through our digital platform in a manner which is bold and innovative”.

Riyad Capital acted as the Arranger and Dealer with respect to the SAR 300 million Sukuk issuance.

Bidaya's Sukuk Programme is aimed at maximizing the utilization of Islamic capital markets, resulting in diversification of the company's funding sources. It is an unprecedented initiative in the Saudi real estate market and in line with the Saudi Vision 2030 to facilitate homeownership for all Saudi citizens.