The UAE Ministry of Finance, in coordination with the Central Bank, completed an auction of Dh1.1 billion in dirham-denominated Islamic Treasury Sukuk (T-Sukuk) as part of its 2025 issuance program.
The auction attracted Dh6.12 billion in bids from eight primary dealers, resulting in an oversubscription rate of 5.6 times.
The May 2027 tranche yielded 3.83%, while the September 2029 tranche yielded 3.93%. These yields correspond to spreads of 5 and 0 basis points, respectively, over comparable US Treasuries at the time of issuance.
This issuance is part of the UAE’s strategy to develop a dirham-denominated yield curve and strengthen the local debt capital market.
