The National Debt Management Center (NDMC) was established under the name of Debt Management Office within the Ministry of Finance, in the fourth quarter of 2015 as an initiative of the National Transformation Program. Subsequently, it was transformed into the National Debt Management Center, pursuant to Council of Ministers Resolution No. (139) dated 16/02/1441H, as an independent legal entity and reports directly to His Excellency the Minister of Finance. The mandate of the Center is to manage public debt, including securing the Kingdom of Saudi Arabia's financing needs at the best possible cost in the short, medium, and long term, under a level of risk consistent with the Kingdom's financial policies, while ensuring sustainable access to global financial markets at fair pricing. The Center has also witnessed an expansion in the scope of its work beyond securing financing needs, including overseeing credit rating activities, enhancing human capabilities, and enabling and supporting relevant entities to contribute to the realization of Saudi Arabia's Vision 2030.
Vision, Mission, and Values
Vision
To be the Center of Excellence in providing sustainable funding solutions for the government.
Mission
Managing and developing financial, human resources, and government procurement systems with flexibility and reliability, in accordance with the best global practices and methodologies.
Values
Integrity
Credibility
Agility
Collaboration
Center Strategy
To be the Center of Excellence in providing sustainable funding solutions for the government
Proactive contribution to credit rating achievement
Securing Sustainable Financing Aligned with Government Debt Polic
Meet key stakeholders’ funding needs by diversified solutions
SustainablSustainable Growthe Growth
developing standardized business policies and ensuring agile portfolio management by achieving the
Business Excellence
Fully operationalize NDMC’s mandate through establishing strategic partnerships, developing standardized business policies and ensuring agile portfolio management by achieving the ABP targets in alignment with approved debt portfolio risk levels
Strategic Positioning
Recognize NDMC as a valuable knowledge &:
data analytics advisor for debt management,
and build KSA coherent credit story to enhance
brand visibility and maintain NDMC’s positive corporate image perception
Agile Organization
Enhance capabilities and resources that empower NDMC’s core functions to execute the strategic themes, by accelerating the technology transformation, enabling effective governance and operational transformation, as well as ensuring a high-performing organization to lead the organizational transformation
The center's objectives are centered around the following:
Debt Strategy
Contribute to the development of the Kingdom's public debt policy, and securing the Kingdom's financing needs in the short, medium and long term.
Sustainability of Financing
Maintain the Kingdom's ability to access different debt markets to issue sovereign debt instruments at fair pricing within informed foundations and frameworks of risk management.
Credit Rating
Maintain the Kingdom's ability to access different debt markets to issue sovereign debt instruments at fair pricing within informed foundations and frameworks of risk management.
Empowerment and Support
Providing advisory services and proposing implementation plans for government entities, companies in which the government owns more than 50% of their capital, and public institutions within the scope of NDMC's competence. This includes collecting, processing, and monitoring direct and indirect public debt data, negotiating debt restructuring, repricing, or re-contracting, offering services related to hedging policies, managing investor relationships in public debt instruments, handling credit rating affairs, and other related services.
The Center has the following mandate:
Without prejudice to the jurisdiction of the relevant government agencies,
- Develop policies, plans and programs - in accordance with the statutory procedures - that would enhance the public debt policy of the Kingdom, and ensure the sustainability of the Kingdom's access to various domestic and international debt markets at fair pricing.
- Contribute to the promotion of the Kingdom's financial policy in the area of NDMC's competence, in agreement with the Ministry of Finance.
- Propose related regulations to the public debt management, and propose an amendment to the applicable regulations, and reporting them in accordance with the Statutory procedures.
- Adopt performance measures and standards of public debt levels, and indicators of the Kingdom's credit rating, and developing these indicators and standards on an ongoing basis, in cooperation with related government agencies.
- Developing the necessary tools, approaches and methods to the public debt repayment, proposing an amendment to the applicable ones, and reporting on the requirements to complete the statutory procedures, in agreement with the relevant agencies.
- Adopting the best practices of information systems and technical applications for NDMC's projects and work, including risk management, settlement and payments systems.
- Preparing periodic measuring and monitoring on the public debt situation, including risk management, compliance, evaluating funding sources and analysis their impact on the public debt portfolio.
- Coordinating with government agencies to build work teams to study credit rating details.
- Holding meetings, seminars, conferences and training courses specialized in the field of public debt, whether inside or outside the Kingdom, in a way that contributes to build and strengthen effective relationships with the financial markets' participants.
- Seeking assistance from experts, consultants and highly skilled consulting firms in the area of NDMC's competence and the tasks assigned to it.
- Concluding partnerships and cooperation agreements with relevant government agencies, to exchange experiences in the financial and monetary fields.
- Concluding memoranda of understanding and agreements with counterpart agencies in other countries and relevant international financial institutions, to exchange experiences in the field of public debt management, in accordance with the statutory procedures.
- Preparing or participating in scientific studies and researches in the fields of public debt and their developments, and publishing them.
- Disseminating public debt data to enhance transparency.
- Providing administrative and technical advice to government agencies and companies in which the government owns more than (50%) of their capital and public institutions, in the fields of pricing or structuring financing, hedging policies, investors relations, credit rating, or other related services.