UAE Issues AED 1.1 Billion Islamic Treasury Sukuk for August 2024

UAE, 23 October, 2024 : The UAE Ministry of Finance, in collaboration with the Central Bank of the UAE (CBUAE), successfully issued AED 1.1 billion in Islamic Treasury Sukuk (T-Sukuk) as part of the August 2024 issuance programme.

The auction saw strong demand, with bids totaling AED 6.32 billion, oversubscribing the issuance by 5.7 times. The May 2026 tranche achieved a Yield to Maturity (YTM) of 4.04%, while the May 2027 tranche had a YTM of 3.88%, both ranging from 0 to 9 basis points above comparable US Treasuries.

This issuance supports the development of the UAE dirham-denominated yield curve and offers safe investment alternatives, contributing to the growth of the local debt capital market and the country’s sustainable economic development.

Source : www.mof.gov.ae