Skip to main content

Blog entry by FintEdu Admin

UAE Treasury Sukuk Auction for Q3 Sees Strong Demand and Oversubscription

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

Total Views : 211 | Share on

Related Posts

Qatar, 2 June, 2025 : Qatar and Kuwait have signed a bilateral agreement to avoid double taxati...

Read More

UAE, 29 May, 2025 : The Federal Tax Authority (FTA) held an awareness workshop in Dubai focused...

Read More

UAE, 29 May, 2025 : The UAE Securities and Commodities Authority (SCA) has launched the regionâ...

Read More