As Saudi Arabia wrestles with the challenges of creating more employment for its youth and developing new growth areas in its economy, the governor of the Saudi Arabian Monetary Agency (SAMA), Mohammad Al-Jasser, is stressing the need for financial diversification and the move from traditional financing sources such as bank credit to corporate bonds and sukuk.
“The financial sector needs more legs,” says Mr Al-Jasser. “The corporate bond and sukuk markets need to develop here, corporates need to diversify their funding and the development of corporate bonds and sukuk will make the financial sector more robust.”
