UAE Issues AED1.1 Billion Islamic Treasury Sukuk for Q2 2024

UAE, 19 June, 2024 : The UAE Ministry of Finance (MoF), in collaboration with the Central Bank of the UAE (CBUAE), announced the successful issuance of AED1.1 billion in Islamic Treasury Sukuk (T-Sukuk) for Q2 2024. The auction attracted strong demand, with bids totaling AED9.81 billion, resulting in an 8.9-times oversubscription.

The 3-year and 5-year tranches yielded 4.57% and 4.44% respectively, each tightening 5bps below comparable US Treasuries. This issuance supports the development of a UAE dirham denominated yield curve, offers safe investment alternatives, strengthens the local debt capital market, and promotes sustainable economic growth.

Source : www.mof.gov.ae