Richard Banks

Sukuk fuels economic expansion in Saudi Arabia

Animated by the global economic turmoil, global deleveraging leads to a reduction in global bank credit available for Saudi companies and projects. But funds are neccessary and the government is correctly hesitant to offer it directly.
Richard Banks, Director of Euromoney Saudi Arabia Conference, states that despite the fact that important progress has been made in sukuk issuance, the active names have tended to be large companies.
This year's Euromoney Saudi Arabia Conference will tske place in Riyadh on 22-23 May 2012 in partnership with the Ministry of Finance, key figures from the public and private sector will discuss how this funding gap can be filled.

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