About the company
Sukuk Financial Company was established after its founders observed, through their extensive and diverse experience in the financial sector, the absence of an available channel for issuing debt instruments in amounts less than 240 million riyals. This indicates the existence of a vast number of companies and commercial enterprises that need financing but lack the opportunity to issue debt instruments.
The Capital Market Authority launched the FinTech Lab in 2018 to keep pace with the rapidly accelerating technological revolution in the financial market, contributing to supporting the national economy and achieving the goals of the Financial Sector Development Program. From this point, its founders saw an opportunity to direct the savings and investments of individuals and companies towards supporting the expansion of vital economic projects that contribute to increasing the Gross Domestic Product by establishing an integrated market for issuing and investing in debt instruments.
After the implementation plan of the Financial Sector Development Program revealed that one of the most prominent fundamental challenges for the financial sector in the Kingdom is the heavy reliance on bank financing, the program committed to striving to deepen the debt instruments market in the Kingdom of Saudi Arabia to provide alternative financing to bank financing and equity.