The Ministry of Finance has announced the appointment of Ayman Mohammed Al-Sayari as Acting Head of the Debt Management Office (DMO). In addition to leading the DMO, Al-Sayari is also the Deputy Governor for Investment at the Saudi Arabian Monetary Authority (SAMA), a position he has held since 2013. In a statement to Saudi Press Agency (SPA), "I am delighted to welcome Al-Sayari to his new role, especially given his significant contribution to last year's successful sovereign bond and loan issuances. His extensive experience and expertise will build on the DMO's success, attract more top quality talent to the DMO and firmly establish the DMO's prominent position in international debt markets," said Mohammed Al-Jadaan, Minister of Finance. "Under his leadership, I am confident that the DMO will play a crucial role in meeting the Kingdom's Vision 2030 objective of creating a global investment powerhouse." During his tenure at SAMA, Al-Sayari played a key role in formulating the Sovereign Debt Strategy for the Kingdom. Since 2015, he has also overseen local SAR sovereign debt on behalf of the Ministry of Finance and played an active role in the 2016's successful international bond issuance, which yielded USD$ 17.5 billion and securing an international syndicated loan of USD$ 10 billion. Al-Sayari is also responsible of leading the Saudi Sovereign credit rating team. In his new role at DMO, he will lead the development of the Kingdom's overall public debt strategy to ensure a sustainable and prosperous economy for the Kingdom of Saudi Arabia Al-Sayari joined SAMA in 1999 and was appointed as Deputy Governor for Investment in 2013. He holds an MBA in Finance from George Washington University, a BSc in Accounting from King Fahd University of Petroleum and Minerals, and completed the General Management Program at Harvard Business School. He is also a CFA charter-holder. It is worth mentioning that the Kingdom of Saudi Arabia, in 2016, issued a US$ 17.5 billion bond issuance, the largest emerging market issuance ever. It resulted in the SSAR Issuer of the Year Award, Bond Issuer of the Year Award and Emerging EMEA Issuer of the Year, from the International Financing Review In 2016, the Kingdom secured a landmark US$ 10 billion loan resulting in the Middle Eastern Deal of the Year Award from Global Capital The DMO helps to secure the financing needs of the Kingdom of Saudi Arabia with the best possible financing costs The DMO plays a key role in delivering the structural economic and fiscal reforms in the National Transformation Program in order to achieve the Kingdom's Vision 2030
