Saudi Arabia Sees $10 Billion Lift From Joining Bond Indexes

The head of Saudi Arabia’s securities exchange said the inclusion of its domestic bonds in two global indexes could draw billions of dollars of fresh money to the local debt market, boosting the kingdom’s efforts to attract overseas capital for its economic overhaul.

Mohammed Al-Rumaih, chief executive officer of the Saudi Exchange, said the kingdom’s inclusion in both the JPMorgan Government Bond Index for Emerging Markets and the Bloomberg Emerging Market Local Currency Government Index next year is expected to generate over $10 billion in foreign inflows.