The size of the planned Sukuk will be determined and depends on market appetite.
Saudi Arabia is expected to announce a potential new US dollar-denominated Sukuk deal, reported Reuters.
The new debt issue would be the Kingdom’s second international Sukuk, following a $9 billion debut deal last year.
Saudi Arabia is working on a number of economic reforms aimed at diversifying its economy and has projected a fiscal deficit of SAR 195 billion of GDP this year, down from SAR 230 billion last year.
Over the past two years, Saudi Arabia raised $50 billion through international conventional and Islamic bonds.