Saudi Arabia Secures $2.5 Billion Shariah-Compliant Revolving Credit Facility

Riyadh, Saudi Arabia: In a strategic move to bolster its financial framework, Saudi Arabia has successfully finalized a Shariah-compliant revolving credit facility amounting to $2.5 billion, as announced by the National Debt Management Center (NDMC) on Thursday.

This significant credit arrangement, set over a three-year term, is designed to meet the general budgetary requirements of the kingdom. The NDMC highlighted the collaboration with three prominent regional and international financial institutions in securing this facility, underscoring Saudi Arabia's commitment to financial prudence and economic stability.

As the kingdom navigates its fiscal landscape, projections indicate that its total public debt is anticipated to reach 1.3 trillion riyals ($346 billion) by 2025. This marks a moderate increase from the estimated 1.2 trillion riyals in 2024, maintaining the debt level just below 30% of the Gross Domestic Product (GDP).

This development highlights Saudi Arabia's proactive approach in managing its fiscal responsibilities while adhering to Shariah principles, ensuring both economic resilience and adherence to Islamic financial regulations. The NDMC's strategy reflects a balanced path towards achieving financial growth and sustainability for the kingdom.