Saudi banks issue nearly SAR 31B sukuk in 2026

TASI-listed banks have announced a series of sukuk issuances since early 2026, including Additional Tier 1 (AT1) sukuk, as well as two social sukuk issuances by Al Rajhi Bank (Tier 1 and Tier 2).
According to an Argaam study, the value of Saudi riyal-denominated issuances ranged from SAR 1.46 billion to SAR 10 billion, while US dollar-denominated issuances ranged from $500 million to $1 billion.
Annual yields on priced issuances ranged between 6.15% and 6.625%, with early redemption dates varying by issuance.
The total value of announced issuances to date reached nearly SAR 30.75 billion (or $8.20 billion). This comprised SAR-denominated issuances worth SAR 16.31 billion and $3.85 billion (or approximately SAR 14.43 billion), respectively.

Riyad Bank led by sukuk issuances in 2026 with SAR 10 billion worth of sukuk, accounting for around 32.5% of the total.

Al Rajhi Bank ranked second with total issuances of nearly SAR 6 billion through two offerings — one worth $1 billion and the other $600 million — representing around 19.5% of the total. Alinma Bank came in third place with approximately SAR 4.88 billion across two issuances — a SAR 3 billion domestic offering and a $500 million international issuance — accounting for around 15.9%.

Bank AlJazira ranked fourth with total issuances of about SAR 3.34 billion across two offerings, representing around 10.9% of the total. The remaining share was distributed among Arab National Bank (ANB), Bank Albilad and The Saudi Investment Bank (SAIB).