Saudi Arabia will join the JPMorgan Emerging Market Bond Index (GBI-EM) in 2027, with sovereign bonds expected to reach a 2.52% weighting. 

This inclusion aims to attract major institutional investment into Saudi fixed-income assets, including USD-denominated sovereign/quasi-sovereign bonds and SAR-denominated Sukuk, says a Reuters report. 

Approximately $69 billion in Saudi sovereign sukuk could be included in the JP Morgan Emerging Market bond index. 

Apart from Saudi Arabia, the Philippines will also join the index. For the Philippines, nine ⁠eligible ​government bonds with a ​combined value of around $49 billion are under consideration, said Reuters.