Mohamed Bin Hadi Al Hussaini rings market-opening bell to celebrate listing the Islamic Treasury Sukuk on Nasdaq Dubai

Mohamed Bin Hadi Al Hussaini rings market-opening bell to celebrate listing the Islamic Treasury Sukuk on Nasdaq Dubai

The listing comes after achieving successful results during the first auction

Published: Tue 16 May 2023, 12:03 AM

Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, rang the market-opening bell to celebrate and mark listing the domestic Dirhams Islamic Treasury Sukuk (T-Sukuk) on Nasdaq Dubai. The UAE, represented by the Ministry of Finance (MoF) as the issuer and in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, has announced launching dirham-denominated Islamic Treasury Sukuk (T-Sukuk), with a benchmark auction size of Dh1.1 billion.

The launching of Dirham-denominated Islamic Treasury Sukuk (T-Sukuk) includes a series of issuances, in order to attract a new category of investors and support the sustainability of economic growth. The issuance of T-Sukuk is aimed at enhancing the UAE’s economic competitiveness by providing high-quality Islamic assets at competitive prices. This will support the Central Bank of the UAE in managing liquidity within the banking sector and boosts the size of financial investments, which will reflect positively on the country’s economy, investment environment, per capita income and gross national income.

The bell ringing ceremony was attended by a number of senior officials from the Ministry of Finance, Central Bank of the UAE,