The UAE Ministry of Finance (MoF), in collaboration with the Central Bank of the UAE, has issued Dh1.1 billion worth of Islamic Treasury Sukuk (T-Sukuk) as part of its Q3 2024 programme. The auction attracted Dh5.07 billion in bids, exceeding the subscription by 4.6 times.
The two tranches include one maturing in May 2027 with a yield of 3.67% and a new five-year tranche maturing in September 2029 with a yield of 3.65%. The T-Sukuk, denominated in UAE dirhams, supports the development of a local yield curve and enhances the competitiveness of the UAE’s debt capital market.
