UAE, 05 April, 2024 : The Ministry of Finance (MoF) of the United Arab Emirates, in collaboration with the Central Bank of the UAE (CBUAE), has disclosed the outcomes of the Islamic Treasury Sukuk (T-Sukuk) auction, as part of the Q1 2024 issuance programme outlined on the ministry’s website.
The auction for the 3-year and 5-year tranches of the Islamic T-Sukuk garnered significant interest from eight primary dealers, with bids totaling AED7.83 billion, showcasing a remarkable oversubscription rate of 7.1 times. This strong demand underscores market confidence, resulting in competitive prices that offered a spread of 4 bps over US Treasuries with similar maturities.
The success of the Islamic T-Sukuk issuance programme contributes to the establishment of the UAE dirham denominated yield curve, furnishing secure investment avenues for investors. Moreover, it reinforces the local debt capital market, fosters a conducive investment environment, and bolsters sustainable economic growth.
Source : www.mof.gov.ae
Related Posts
Anti-Money Laundering (AML) in the UAE is a core component of the country’s financial and economic...
Read More
In an era where financial transactions occur at the speed of light, the role of an Anti-Money Launde...
Read More
@@PLUGINFILE@@/ttsmaker-file-2025-11-13-12-36-37.mp3Listen to this ArticleIn today’s business envi...
Read More