Sukuk Capital says it holds 63% of Saudi debt instruments market on fintech platforms

Sukuk Capital says it now accounts for about 63% of Saudi Arabia’s market for debt instruments issued through fintech platforms—a narrower category than the country’s debt market as a whole. The Riyadh platform helps companies raise money from investors by arranging online sukuk, Sharia-compliant instruments linked to an underlying transaction or asset. CEO Abdulaziz Al-Sayyari said the company has arranged more than 12.5 billion Saudi riyals in sukuk programs since its first deal in May 2021; about 10 billion riyals of that total has actually been issued, serving more than 600 companies. The figures show online platforms becoming a sizable alternative channel for business financing, though the 63% share is the company’s own measure of that fintech segment.