Dubai: Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, marked a significant milestone by ringing the market-opening bell at Nasdaq Dubai to celebrate the listing of additional UAE dirham-denominated Islamic Treasury Sukuk, with a total value of AED1.1 billion, issued by the Ministry of Finance.
According to Emirates News Agency, the event was attended by prominent figures such as Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Abdul Wahed Al Fahim, Chairman of Nasdaq Dubai; and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, along with senior officials from both organisations. The new listing comprises tap issuances of two existing series under the UAE Federal Government's Islamic Treasury Sukuk Programme.
The issuance includes a AED550 million tap of the 3.49% Sukuk due October 2027, increasing its total outstanding to AED 2.2 billion, and a AED550 million tap of the 3.779% Sukuk due February 2033, now totaling AED1.1 billion. Mohamed bin Hadi Al Hussaini emphasized that the listing reaffirms the Ministry of Finance's dedication to supporting the UAE Government's Islamic Treasury Sukuk Programme and enhancing its role within the national financial system.
Al Hussaini highlighted that the move will further strengthen the development of local currency government debt instruments, enhance the dirham yield curve, expand the investor base, and support a more diversified fixed-income market. He also noted that the increases reflect the UAE's strong credit position and confidence in its financial system, providing reliable government instruments for market stability and liquidity.
Abdul Wahed Al Fahim commented on the UAE's commitment to promoting its status as a leading hub for capital markets, with strong investor demand for the Islamic Treasury Sukuk programme reflecting confidence in the country's economic resilience and development vision. Hamed Ali added that the UAE Federal Government's Sukuk issuance underscores the strength of the country's Islamic finance ecosystem and its strategic role in global capital markets.
The tap issuances bring the total value of outstanding Sukuk listed by the UAE Federal Government on Nasdaq Dubai to US$7.5 billion, underscoring the programme's growth. The exchange now lists US$99.4 billion in outstanding Sukuk, solidifying its position as a leading international hub for Islamic finance.
These issuances form part of the UAE Islamic Treasury Sukuk Programme, advancing the dirham-denominated yield curve, strengthening the domestic fixed-income landscape, and expanding access to Sharia-compliant investment instruments. The listing enhances the role of UAE dirham-denominated Islamic Treasury Sukuk in domestic capital markets, contributing to the development of the government debt market and aligning with the Ministry of Finance's goals of establishing a sustainable financial system.
