Saudi Arabia plans to launch the second round of its riyal-denominated sukuk program next week, the finance ministry said in a statement on Wednesday, without mentioning the exact date.

 

More details will be published later on, the ministry added.

 

Last month, the Kingdom raised SAR 17 billion ($4.5 billion) from its first domestic sukuk sale this year in an attempt to cut its budget deficit amid low oil prices, Argaam reported.

 

The sale which, received SAR 51 billion worth of bids from investors, was 300 percent oversubscribed.

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