Emkan Finance Company announces the success of offering sukuks worth more than 2.2 billion riyals

Emkan Finance Company is thrilled to announce the unprecedented success of its latest sukuk issuance, which has surpassed 2.2 billion Saudi riyals, marking it as the finance sector’s largest sukuk offering to date. This initiative has garnered significant interest from a diverse group of participants, including qualified individuals, institutions, companies, and charitable entities, demonstrating strong confidence in the offering.

This milestone underscores the optimistic outlook for the financing market’s growth, aligning with the strategic objectives of the Kingdom’s Vision 2030 financial sector development program. Mr. Abdullah Al-Habdan, CEO of Emkan Finance, highlighted the enthusiastic investor reception to the sukuk program, reflecting the deep trust in the company’s financial instruments. Emkan, a name synonymous with reliability in the local market, is set to expand its product offerings through the Emkan app, introducing competitive, digitally streamlined services that promise to boost financing applications from its clientele. This sukuk issuance, the first of its kind for the company, paves the way for future endeavors aimed at diversifying funding sources.

Mr. Al-Habdan expressed gratitude towards the Central Bank and the Capital Market Authority for their unwavering support of the financial and financing sectors in the Kingdom. He also acknowledged Al Rajhi Capital’s instrumental role in managing the issuance process as the financial advisor and sole manager, further cementing their status in the global and local sukuk markets. In concluding, he thanked the investors for their trust in Emkan Finance Company and reiterated the company’s pledge to continue offering top-tier financing solutions that adhere to Islamic Sharia principles.