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 AED 1.1 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, in the presence of senior officials from both organisations.
The additional listings represent tap issuances of two existing series under the UAE Federal Government’s Islamic Treasury Sukuk Programme. Moreover, the move reflects continued efforts to expand the local currency sovereign debt market.
The issuance comprised an AED 550 million tap of the 3.49% Sukuk due October 2027, increasing its total outstanding value to AED 2.2 billion. Additionally, the government issued an AED 550 million tap of the 3.779% Sukuk due in February 2033, bringing the outstanding amount to AED 1.1 billion.
Strengthening the Dirham Yield Curve
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, more diversified fixed-income market.
He noted that the increases in existing issuances reflect the UAE’s strong credit position, the high level of confidence in its financial system, and 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. Moreover, 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.
Exchange Leaders Highlight Investor Demand
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 investors’ confidence 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.”
Sukuk Listings Expand on Nasdaq Dubai
With these tap issuances, the total value of outstanding Sukuk currently listed by the UAE Federal Government on Nasdaq Dubai has reached US$7.5 billion, highlighting the programme’s sustained growth. Additionally, the total value of outstanding Sukuk listed on Nasdaq Dubai now stands at US$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.
Moreover, the listing underscores the growing role of UAE dirham-denominated Islamic Treasury Sukuk within domestic capital markets. As a result, it supports the development of the government debt market and enhances the visibility of UAE sovereign issuances on Nasdaq Dubai, aligning with objectives to establish a more advanced and sustainable financial system.
