Today's Edition
DUBAI (WAM)
The Ministry of Finance (MoF) announced the opening of the subscription period for the inaugural Sovereign Retail T-Sukuk Programme, the first initiative of its kind in the UAE, in close collaboration with the Central Bank of the UAE (CBUAE).
The issuance size will be Dh50 million, and the subscription period will run from June 24-30, 2026 through approved digital channels, providing individual investors, including citizens and residents, with an opportunity to participate in a sovereign investment instrument fully backed by the UAE Government and compliant with the principles of Islamic Shariah, with a minimum subscription amount of Dh1,000.
The inaugural T-Sukuk will have a tenor of two years and will offer a profit rate of 4.30% per annum, determined in line with prevailing market conditions, with profit payable every six months.
The approved digital channels include Dubai Financial Market’s Subscription platform, DFM app, iVestor app, and digital platforms of Emirates NBD Bank, which has been appointed as the lead receiving bank.
The participating receiving banks also include Emirates Islamic Bank, Abu Dhabi Islamic Bank (ADIB), Ajman Bank, and Mashreq Bank. The sukuk are expected to be listed on Nasdaq Dubai and become available for trading on 2 July 2026, following the completion of the offering process.
Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said that opening of subscriptions for the Sovereign Retail T-Sukuk Programme marks a pivotal milestone in bolstering the readiness of the UAE's sovereign investment ecosystem by providing structured fully digital subscription channels that enable individual investors to access government investment products efficiently and transparently through approved platforms.
Al Hussaini said this phase reflects the Ministry of Finance’s commitment to delivering a comprehensive digital subscription experience that ensures clarity throughout the investor journey, from subscription through to trading in the secondary market or holding until maturity.
He explained that enabling subscriptions through approved digital platforms and designated banking channels simplifies participation for individual investors, and provides a clear pathway to access sovereign sukuk offered within a transparent investment framework.
He further noted that the collaboration between the Ministry of Finance, Dubai Financial Market (DFM), Nasdaq Dubai, and the designated receiving banks represents an effective institutional model for supporting the offering process. This collaboration contributes to providing a secure and well-structured experience for individual investors while strengthening the readiness of the financial infrastructure to support this type of sovereign issuance.
Individual investors may participate in the subscription process by obtaining an Investor Number (NIN), where applicable, and submitting subscription applications through the approved channels while completing the necessary procedures. The sukuk will be allocated and deposited into investors’ accounts prior to their listing on Nasdaq Dubai.
Approved subscription channels include Dubai Financial Market’s Subscription platform, DFM app, iVestor app, and the digital channels of the approved receiving banks.
Allocation is scheduled to take place immediately following the close of the subscription period, followed by issuance on 1 July 2026. The sukuk will then be listed on Nasdaq Dubai and become available for trading from 2nd July 2026.
Investors may sell their holdings in the secondary market following the listing of the Sukuk through members licensed on Nasdaq Dubai. A market maker and liquidity providers will be available on an ongoing basis to support trading activity and liquidity.
Any excess subscription amounts will be refunded no later than 7 July 2026.
The programme enables individual investors to diversify their investment portfolios through a trusted government-backed instrument within a structured framework that extends from subscription through listing and secondary-market trading on Nasdaq Dubai, which also acts as the central securities depository and provides the settlement platform.
The Sovereign Retail T-Sukuk Programme forms part of the Ministry of Finance’s broader efforts to expand participation in government-backed investment instruments and provide innovative, Shariah-compliant investment products that are accessible to a wider segment of society.
The programme supports greater public participation in the UAE’s financial and investment ecosystem while promoting a culture of long-term saving and investment.
The Sovereign Retail T-Sukuk Programme is distinct from the Fractional T-Sukuk and Bonds Initiative in terms of both the investment mechanism and the source of the securities.
The programme provides investors with direct access to newly issued sovereign sukuk through a primary market subscription at par value (100%), with a minimum investment threshold of Dh1,000.
By comparison, the Fractional T-Sukuk and Bonds Initiative, launched in November 2025, offers investors the opportunity to purchase fractional interests in existing sukuk and bonds that have already been issued and are traded at prevailing market prices, with a minimum investment amount of Dh4,000.
