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Global Academic Journal of Economics and Business
Volume-8 | Issue-04
Original Research Article
Strengthening Saudi Arabia’s Corporate Debt Market under Vision 2030: A CFO Framework for Issuer Readiness, Debt Structuring, Liquidity Planning, and Governance
Junaid Mahesar
Published : July 28, 2026
DOI : https://doi.org/10.36348/gajeb.2026.v08i04.028
Abstract
Saudi Arabia’s Vision 2030 requires a deeper corporate debt market capable of financing diversification, infrastructure, technology, tourism, manufacturing and energy transition without excessive dependence on bank balance sheets or public funding. This review develops a chief financial officer framework for issuer readiness, debt structuring, liquidity planning and governance. It synthesises regulatory reports, market evidence and corporate finance research published between 2020 and 2025. The review finds that market development depends not only on additional issuance, but on a larger pipeline of credible repeat issuers, transparent pricing, diversified maturities, stronger secondary-market liquidity and governance arrangements that protect debtholders. At company level, readiness begins with a defensible financing purpose, audited cash-flow visibility, covenant capacity, rating preparedness and board-approved risk limits. Structuring should match instrument type, currency, tenor, amortisation, security package and sustainability features to the asset and cash-flow profile rather than to short-term pricing alone. Liquidity planning must integrate minimum cash, committed facilities, maturity ladders, stress testing and refinancing triggers. Governance must connect the board, treasury, risk, legal, investor relations and Shariah oversight where applicable. Its application can improve issuer resilience, broaden institutional participation and support a more liquid Saudi corporate bond and sukuk market.

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