Sukuk Capital says it accounts for around 63% of the debt instruments market offered through fintech platforms in Saudi Arabia, with sukuk programs launched since its first issuance in May 2021 exceeding SAR12.5 billion.
Speaking at Money20/20 in Riyadh, CEO Abdulaziz Al-Sayari said completed issuances had reached approximately SAR10 billion, benefiting more than 600 companies across several sectors.
The company’s current portfolio stands at SAR5.3 billion, according to the announcement. Sukuk Capital has maintained annual growth of between 70% and 80%, which Al-Sayari attributed to the performance of the local economy, the expansion of the debt market and demand for financing solutions tailored to small and medium-sized businesses.
Investors have received more than SAR5 billion in distributions, while the company’s repayment default rate has remained at 1.1%. Sukuk Capital said it publishes related data regularly through its platform.
The company finances businesses in industries including manufacturing, education, healthcare, construction, commerce and real estate. Al-Sayari said its financing costs are generally close to those offered by banks, varying according to each company’s credit assessment. Sukuk Capital does not currently plan to list its shares on the stock market.
Source: Jawlah
