H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Minister of Finance, highlighted the success of the Government Treasury Bonds Programme and the Dirham-denominated Islamic Treasury Sukuk Programme.
He stated that these achievements reflect the UAE’s sound investment policies, reinforcing the country’s status as an attractive global investment hub. These programmes were first launched in 2022, with significant results indicating strong investor confidence and demand.
Sheikh Maktoum remarked that the UAE continues to solidify its position as a leading competitive economy, demonstrating robust creditworthiness and economic strength. This success enhances the performance of the financial sector, contributing to sustainable growth and offering secure investment opportunities in UAE dirhams.
Additionally, he emphasised the importance of launching transformative initiatives and projects to further develop the financial sector, ensure future readiness, and achieve the country’s long-term strategic goals.
The UAE’s Treasury Bonds Programme has issued AED 11.2B worth of bonds by 2023, and as of May 2024, the Ministry repaid AED 4.85B, leaving AED 6.35B outstanding.
The Islamic Treasury Sukuk Programme saw strong demand, with a total of AED 13.8B issued by August 2024, bringing the combined total of outstanding internal public debt to AED 20.15B. All auctions consistently attracted substantial investor interest, achieving premium market prices compared to US Treasury Bonds. This contributes to the UAE’s strategy of diversifying funding sources, supporting the local currency bond market, and strengthening the financial sector.
