The Saudi Ministry of Finance announced it had completed all investor requests for its domestic Sukuk issuance (07 – 2018) through the reopening of offering (07 – 2018) under the Saudi Government Sukuk Program, bringing the total issue to $3.04 billion. The ministry explained the issuance was divided into three segments: first tranche worth $600 million for Sukuk accruing in 2023. The second tranche worth $133.3 million for Sukuk accruing in 2025 and the third $320 million for 2028. The Debt Management Office (DMO) of the Ministry of Finance announced the establishment of the Sukuk Issuance Program in Saudi riyal in 2017. Saudi Arabia has gone a long way towards raising spending efficiency and controlling public debt levels and the establishment of the DMO is part of these ongoing efforts. The office aims to secure Saudi Arabia’s finance needs with best financing costs in the short, medium, and long term under acceptable degree of risk to maintain the Kingdoms ability to access different international financial markets at fair pricing. The DMO’s main responsibilities include: managing government direct and contingent liabilities and all of its related operations, as well as developing a strategy for the public debt and an an Annual Debt Borrowing Plan. The Office is also tasked with developing internal policies of the DMO and its management structure, developing legal frameworks, governance and risk management policies related to the public debt management.