UAE, 18 July, 2024 : The Central Bank of the UAE (CBUAE) has announced the successful results of the Islamic Treasury Sukuk (T-Sukuk) auction for Q3 2024. The auction, part of the Islamic T-Sukuk issuance program, saw strong demand from eight primary dealers for the 3-year and 5-year tranches.
Bids totaled AED 6.76 billion, with an oversubscription rate of 6.1 times. The 3-year tranche achieved a Yield to Maturity (YTM) of 4.77%, while the 5-year tranche had a YTM of 4.43%, both slightly below comparable US Treasuries.
This issuance aims to build a UAE dirham-denominated yield curve, provide safe investment alternatives, strengthen the local debt capital market, and support sustainable economic growth.
Source : www.mof.gov.ae
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