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Saudi Joins EM Bond Index
JPMorgan has announced that Saudi government sukuk denominated in riyals will be added to its local-currency emerging markets debt index over a 10-month period beginning January 29, 2027. The inclusion covers eight issues with a total face value of $79 billion. Saudi Arabia’s weighting will reach 2.71%, compared with an earlier estimate of 2.52%. The bank will also reduce the maximum weighting for any single country in the diversified version of the index from 10% to 9%. The move aims to broaden the investor base for Saudi debt instruments and boost their trading and liquidity in the secondary market.
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