Saudi Arabia holds third largest dollar reserves globally: Jadaan

Pastor of Finance Mohammed Al-Jadaan said that Saudi Arabia holds the third biggest dollar saves on the planet. 

In a meeting with Al Arabiya channel on the sidelines of the Financial Sector Conference held in Riyadh, he uncovered that the Kingdom intends to issue bonds worth SR120 billion this year so as to address its issue for neighborhood bonds until the year's end. 

"It is critical to issue bonds in Saudi riyals, and the bend of issuance of Saudi bonds has been finished after the issuance of 30 years. We will finish the issuance of month to month securities as required by the market," he said. 

The interest for the issuance of first bonds was high, Jadaan said while underlining that the intense interest for Saudi bonds mirrors the worldwide trust in its economy. 

The priest noticed that the interest for long haul bonds is more prominent than momentary ones. 

Jadaan said the Kingdom's bond issues are right now centered around riyal and dollar. 

"The Kingdom may issue securities in euros this year relying upon the market request," he included.