Govt Settles USD 524M Sukuk

The Finance Ministry said the payment covers USD 500 million in principal and USD 24.68 million in interest. The amount was settled using the Sovereign Development Fund and state reserves.

Authorities have said the repayment will help reduce the debt-to-GDP ratio and strengthen the financial sector. They also noted that reserves have reached USD 1.3 billion, while SDF balances have exceeded USD 350 million.

The government has maintained that the sukuk was paid on time despite economic challenges.