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Saudi Economy and Planning, Education Ministries Sign MoU to Strengthen Collaboration

The MoU was signed by Minister of Economy and Planning Faisal Alibrahim and Minister of Education Yousef Al-Benyan - SPA
The MoU was signed by Minister of Economy and Planning Faisal Alibrahim and Minister of Education Yousef Al-Benyan - SPA
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Saudi Economy and Planning, Education Ministries Sign MoU to Strengthen Collaboration

The MoU was signed by Minister of Economy and Planning Faisal Alibrahim and Minister of Education Yousef Al-Benyan - SPA
The MoU was signed by Minister of Economy and Planning Faisal Alibrahim and Minister of Education Yousef Al-Benyan - SPA

The Ministry of Economy and Planning signed a memorandum of understanding with the Ministry of Education to integrate economy concepts into school curricula and educate students about the importance of economics and public policy to meet the requirements of the labor market.
The memorandum, signed by Minister of Economy and Planning Faisal Alibrahim and Minister of Education Yousef Al-Benyan, establishes a framework for joint efforts across various areas.
It aims to attract scholarship students and graduates according to the needs and requirements of the Ministry of Economy and Planning, which will provide supplementary educational resources to support the curriculum integration efforts.

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Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
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Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)

State Street Global Advisors, a subsidiary of State Street Corporation, announced that Saudi Arabia’s Public Investment Fund (PIF) has invested SAR 750 million ($200 million) in the newly launched SPDR J.P. Morgan Saudi Aggregate Bond ETF.

According to a statement released by the company on Wednesday, this fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). It is listed in both the London Stock Exchange and Germany’s Xetra, offering investors the opportunity to track government and quasi-government bonds denominated in either the Saudi Riyal or the US Dollar, including sukuk (Islamic bonds).

This investment aligns with the objectives of Saudi Vision 2030, representing a significant step toward enhancing the international presence of Saudi Arabia’s financial markets and attracting foreign investments. The fund is available to investors across several European countries, including Austria, Denmark, France, Germany, and Italy.

Commenting on the investment, Yazid Al-Humaid, Deputy Governor and Head of MENA Investments at PIF, said: “The fund continues to create opportunities and enable access to diverse capital markets in the Kingdom. Investing in the first internationally listed Saudi fixed-income ETF underscores PIF’s commitment to deepening Saudi capital markets, attracting investors, and fostering partnerships across global financial centers.”

CEO of State Street Global Advisors Yi-Hsin Hung emphasized that the launch of the fund is a significant milestone in providing innovative opportunities for investors while contributing to Saudi Arabia’s economic growth.