Nasdaq Dubai welcomes listing of Dhs1.1 billion Islamic Treasury Sukuk

Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, rang the market-opening bell at Nasdaq Dubai to mark the listing of additional UAE dirham-denominated Islamic Treasury Sukuk issued by the Ministry of Finance, with a total value of Dhs1.1 billion.

During the ceremony, he was joined by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai; and Hamed Ali, Chief Executive Officer of Nasdaq Dubai and Dubai Financial Market (DFM), in the presence of senior officials from both organisations.

The additional amounts represent tap issuances of two existing series under the UAE Federal Government’s Islamic Treasury Sukuk (T-Sukuk) Programme.

This comprised a Dhs550 million tap of the 3.49% Sukuk due October 2027, increasing its total outstanding to Dhs 2.2 billion, alongside a Dhs550 million tap of the 3.779% Sukuk due February 2033, which now stands at Dhs1.1 billion.

Mohamed bin Hadi Al Hussaini said that the listing of additional UAE dirham-denominated Islamic Treasury Sukuk issuances on Nasdaq Dubai reaffirms the Ministry of Finance’s commitment to supporting the UAE Government’s Islamic Treasury Sukuk Programme and strengthening its role within an efficient and flexible national financial system.

Al Hussaini added that the move will further bolster the ministry’s approach to developing local currency government debt instruments, thereby enhancing the dirham yield curve, broadening the investor base, and supporting the development of a deeper and more diversified fixed-income market.

He noted that the increases in the existing issuances reflect the UAE’s strong credit position and the high level of confidence in its financial system, as well as its ability to provide reliable government instruments that promote market stability and liquidity.

He added that the programme continues to strengthen the UAE’s financial infrastructure in line with best practices. He reaffirmed the ministry’s commitment to boosting the efficiency of government issuance management and reinforcing the UAE’s position as a leading financial hub.

For his part, Abdul Wahed Al Fahim said, “The UAE is committed to further promoting its position as a leading hub for the development of capital markets. The strong demand for the Islamic Treasury Sukuk programme reflects the confidence investors place in the resilience of the country’s economy and the sustainability of its long-term development vision. The programme also contributes to enhancing the dirham-denominated yield curve and reinforces the UAE’s standing as a trusted and attractive destination for investors from around the world.”

Meanwhile, Hamed Ali said, “The UAE Federal Government’s latest Islamic Treasury Sukuk issuance highlights the strength of the country’s Islamic finance ecosystem and its strategic role in global capital markets. As investor demand for such instruments continues to grow, Nasdaq Dubai remains well positioned to facilitate efficient market access and support the continued development of capital markets in the region.”

With these tap issuances, the total value of outstanding Sukuk currently listed by the UAE Federal Government on Nasdaq Dubai has reached $7.5 billion, highlighting the sustained growth of the programme. The total value of outstanding Sukuk listed on Nasdaq Dubai now stands at $99.4 billion, reinforcing the exchange’s position as one of the world’s leading international hubs for Islamic finance.

The tap issuances form part of the UAE Islamic Treasury Sukuk Programme, which continues to advance the development of the dirham-denominated yield curve, strengthen the domestic fixed income landscape, and expand access to Sharia-compliant investment instruments with high credit ratings for regional and international investors.

The listing further underlines the growing role of UAE dirham-denominated Islamic Treasury Sukuk within domestic capital markets, contributing to the development of the government debt market and enhancing the visibility of UAE sovereign issuances on Nasdaq Dubai, in line with the Ministry of Finance’s objectives to establish an advanced and sustainable financial system.

 WAM