Dinar’s First Seminar: The Future of Debt Instruments and SAR 12.77 Billion in Transactions During 2023
On Saturday, October 14, 2023, in Riyadh, Dinar Investment held its first seminar, titled “The Future of Debt Instruments Markets.”
The event was organized by Dinar Investment in collaboration with Al-Sayari Law Firm and featured the participation of H.E. Mohammed Elkuwaiz, Chairman of the Capital Market Authority, along with a distinguished group of high-level experts and officials representing the Kingdom’s legislative, regulatory, and executive financial institutions.
The seminar came as an extension of the significant progress witnessed in Saudi Arabia’s debt instruments market, a result of the remarkable legislative and executive developments driven by the Financial Sector Development Program, one of the key programs of Vision 2030.
Launched under the leadership of His Royal Highness Prince Mohammed bin Salman, Crown Prince and Prime Minister, this program has played a vital role in diversifying income sources, developing the national economy, and fostering a culture of financial savings amid the Kingdom’s ongoing economic transformation.
The seminar opened with welcoming remarks from Mr. Abdulrahman bin Abdulaziz bin Sulaiman, Chairman of the Board of Dinar Investment, who highlighted the primary goals of the event—namely, to contribute to the development of Saudi Arabia’s debt instruments markets.
The seminar featured three discussion sessions:
The first session, titled “Debt Instruments: A Forward-Looking Vision,” was a fireside chat with H.E. Mohammed Elkuwaiz, Chairman of the Capital Market Authority, moderated by Mr. Abdulaziz Al-Rasheed, former Assistant Minister of Finance and member of Dinar’s Board of Directors.
The discussion addressed key objectives for developing the Kingdom’s debt instruments markets and explored future challenges and opportunities in this sector.
The second session, titled “The Evolution of Debt Markets,” was chaired by Dr. Omar Al-Munai, Co-Founder of Dinar Investment, and featured distinguished speakers, including Mr. Mohammed Al-Rumaih, CEO of Saudi Tadawul Group, Dr. Raja Al-Marzouqi, Professor at the Prince Saud Al-Faisal Institute for Diplomatic Studies, and Dr. Ahmed Al-Qafari, CEO of Dinar Investment.
This panel reviewed the historical development of the Saudi debt market, its current status, and its impact on national economic growth and development projects.
The final session focused on “The Legal and Zakat Provisions of Trading Debt Instruments.”
It was chaired by H.E. Sheikh Abdullah bin Mohammed Al-Mutlaq, Advisor at the Royal Court and Member of the Council of Senior Scholars, and included participation from Dr. Rashid bin Khunain, Professor at Shaqra University; Dr. Wael Al-Tuwaijri, Zakat expert; and Dr. Yousef Al-Shubaili, Professor at the Higher Judicial Institute and Chairman of Dinar’s Sharia Committee.
The session explored key jurisprudential issues related to trading debt instruments, their various types, and their zakat implications for investors, supported by in-depth academic research and legal analysis of financial concepts and their Sharia classifications.
Throughout all sessions, the seminar witnessed strong engagement from attendees, whose questions, insights, and contributions added significant value to the discussions, enriching the panels and helping achieve the seminar’s objectives.
