Riyad Bank announced that it intends to establish a program to issue primary and secondary bonds and sukuk within and outside Saudi Arabia in riyals, dollars, or any other currency.

In a statement, the bank said that the bond issuance program aims to “diversify funding sources and maturities and strengthen the bank’s capital base, thereby supporting the expansion of its lending activities and enabling it to carry out its banking operations.”

It added that the program will be established and issuance will begin “after completing all regulatory procedures, in accordance with the bank’s needs and prevailing market conditions at the time.”

In a previous move, Riyad Bank had announced the provision of foreign currency ATMs (Riyad Currency ATMs) in the international departure halls at King Khalid Airport in Riyadh and King Fahd Airport in Dammam; this is part of the bank’s ongoing effort to provide its customers with exceptional banking services around the clock, with flexibility and convenience.