HE Mohamed Bin Hadi Al Hussaini rings Nasdaq Dubai’s bell

HE Mohamed Bin Hadi Al Hussaini rings Nasdaq Dubai’s bell

The bell ringing ceremony was attended by H.E. Ebrahim Alzaabi, Assistant Governor of the Central Bank of the UAE - Monetary Policy and Financial Stability, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), the CEOs for the six participating banks, in addition to other senior officials from the organisations.

The inaugural issuance of the local currency treasury bonds program witnessed a strong appetite from investors in the region and globally being 6.3 times oversubscribed during the first auction that successfully concluded this week. The Ministry plans to issue 6 treasury bond tranches this year with a total value of AED 9 billion, where the value of the tranches (2 year and 3 year) in the first auction amounted to AED 1.5 billion, with a fixed coupon rate of 3.01% and 3.24%, respectively, while other tranches will be issued with various tenures up to 5 years at later dates throughout the year.

H.E. Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs noted that the success of the first auction of federal treasury bonds is another step in strengthening the national economy and achieving sustainable economic development, which complements the UAE government’s efforts to enhance and develop