Latest news with #SaudiArabianGovernment
Barnama
13-05-2025
- Business
- Barnama
TH Forges Cooperation With ADAHI, To Manage Malaysian Pilgrims' Dam And Sacrificial Rite
From Nurliyana Farhah Ruslan MAKKAH, May 13 (Bernama) -- The Pilgrims Management Fund Board (TH) has signed an agreement with The Kingdom of Saudi Arabia's Project for Utilisation of Hady and Adahi (ADAHI) for the implementation of dam and sacrificial rites for Malaysian hajj pilgrims for the 1446H/2025M hajj season. Malaysian Hajj delegation head Mohd Hisham Harun said ADAHI is the only organisation recognised by the Saudi Arabian Ministry of Hajj and Umrah to manage the slaughter of sacrificial and dam rites in a systematic and lawful manner according to Islamic law. "This is the first time TH has implemented both dam and sacrificial rituals through a single channel. Previously, it was done separately through a tender process," he said after the signing ceremony of a memorandum of understanding (MoU) between TH and ADAHI at the ADAHI headquarters here, on Monday. Earlier, Mohd Hisham signed the MoU with ADAHI General Coordinator Saad Abdul Rahman Al-Wabil. Also present were TH's deputy head of Hajj Welfare Mohamed Heikal Mohamed Yusuff and TH finance operations director Shamsul Bahar Shamsudin. Mohd Hisham said ADAHI is an official entity of the Saudi Arabian Government under the Royal Commission for Makkah City and Holy Sites and was selected based on the company's modern logistics and facilities. "ADAHI operates eight slaughtering complexes equipped with meat freezing and processing facilities and the meat is not only distributed to the community in Makkah and around the Holy Land, but is also distributed to more than 30 other countries," he said. In addition, Mohd Hisham said the collaboration between TH and ADAHI can provide assurance to pilgrims that their dam and sacrificial rituals are carried out transparently, cleanly and in accordance with set international standards. Mohd Hisham also advised pilgrims to make dam and sacrificial payments through THiJARI application to avoid fraud and dubious worship practices.
Argaam
22-04-2025
- Business
- Argaam
NDMC closes April issuance of Sukuk program at SAR 3.7B
The National Debt Management Center (NDMC) closed receiving investor orders for its domestic issuance for April 2025, under the Saudi Arabian Government SAR-denominated Sukuk Program. The total volume allocated was SAR 3.71 billion, NDMC said in a statement today, April 22. The sukuk issuance was divided into four tranches. The first was valued at SAR 1.315 billion, maturing in 2029; the second was worth SAR 80 million, maturing in 2032; the third amounted to SAR 765 million, maturing in 2036; and the fourth was valued at SAR 1.55 billion, maturing in 2039.
Zawya
20-03-2025
- Business
- Zawya
Saudi's sukuk issuance hits $2.5bln in Q1 2025
Saudi Arabia has closed on its riyal-denominated sukuk issuance for March 2025, with a total allocation of SAR 2.64 billion ($703.2 million). This month's local offering brings the total sukuk allocation this year so far to SAR 9.435 billion. Last February's issuance stood at SAR 3.071 billion, while January's offering was pegged at SAR 3.724 billion. The latest offering under the Saudi Arabian Government SAR-denominated Sukuk Program was split into four tranches, with the first, amounting to SAR 364 million, set to mature in 2027. The second tranche, which has a size of SAR 316 million, matures in 2029, while the third (SAR 1.46 billion) and fourth (SAR 500 million) will mature in 2032 and 2039, respectively, according to the National Debt Management Centre (NMDC). The sukuk market is forecast to stay upbeat this year, with global issuances likely to be between $190 billion and $200 billion, according to S&P. The ratings agency noted a 29% jump in foreign-currency issuance to $72.7 billion as of December 2024, thanks largely to issuers from GCC countries led by Saudi Arabia, as well as Malaysia and Indonesia. (Writing by Cleofe Maceda; editing by Seban Scaria)
Argaam
18-03-2025
- Business
- Argaam
NDMC closes March issuance of Sukuk program at SAR 2.6B
The National Debt Management Center (NDMC) closed receiving investor orders for its domestic issuance for March 2025, under the Saudi Arabian Government SAR-denominated Sukuk Program. The total volume allocated was SAR 2.64 billion, NDMC said in a statement today, March 18. The sukuk issuance was divided into four tranches. The first was valued at SAR 364 million, maturing in 2027; the second is worth SAR 316 million, maturing in 2029; the third amounted to SAR 1.46 billion and will mature in 2032; and the fourth was valued at SAR 500 million, maturing in 2039.
Leaders
19-02-2025
- Business
- Leaders
NDMC Concludes Feb. 2025 Sukuk Issuance under Saudi SAR Program
The National Debt Management Center (NDMC) has successfully completed the February 2025 issuance under the Saudi Arabian Government's SAR-denominated Sukuk Program, with a total allocation of SAR 3.071 billion (three billion and seventy-one million Saudi riyals). The issuance was structured into four tranches: First tranche: SAR 585 million (five hundred and eighty-five million Saudi riyals), maturing in 2029. SAR 585 million (five hundred and eighty-five million Saudi riyals), maturing in 2029. Second tranche: SAR 1.706 billion (one billion and seven hundred and six million Saudi riyals), maturing in 2032. SAR 1.706 billion (one billion and seven hundred and six million Saudi riyals), maturing in 2032. Third tranche: SAR 404 million (four hundred and four million Saudi riyals), maturing in 2036. SAR 404 million (four hundred and four million Saudi riyals), maturing in 2036. Fourth tranche: SAR 376 million (three hundred and seventy-six million Saudi riyals), maturing in 2039. Related Topics : Saudi NDMC's August Sukuk Issuance Reaches SAR 6.018 Bn, Leading GCC Market Aramco to Issue Dollar-Denominated Sukuk Capturing Global Investments GCC Federation Chambers to Hold Gulf-Azerbaijan Economic Forum on Sept. GCC Federation Chambers to Hold Gulf-Azerbaijan Economic Forum on Sept. Short link :
