UAE announces launching Domestic Dirhams Islamic Treasury Sukuk with size of AED 1.1bln

UAE announces launching Domestic Dirhams Islamic Treasury Sukuk with size of AED 1.1bln

- Mohamed Bin Hadi Al Hussaini: The T-Sukuk are Sharia-compliant financial certificates that contribute to achieving comprehensive and sustainable economic and social development goals

- Mohamed Bin Hadi Al Hussaini: Issuing the T-Sukuk in local currency will contribute to building a local currency sukuk market, boosting the local financial and banking sector, as well as providing safe investment alternatives for investors

- Khaled Mohamed Balama: We support Sharia-compliant options to improve the investment environment and consolidate the UAE's global leadership in the Islamic finance sector

- Khaled Mohamed Balama: Islamic treasury sukuk reaffirms the strength of the financial system as well as local and international investors’ trust in the UAE's ability to develop the financial sector

- Khaled Mohamed Balama: The issuance contributes to the development of a local currency bond market and enhances the competitiveness of the local financial markets to support the sustainability of economic growth

Subtitles:

- The T-Sukuk will initially be issued in 2/3/5-year tenures; followed by a 10-year sukuk at a later date

- The structure of Islamic sukuk was approved by the Supreme Sharia Board with the aim of standardising and unifying the practices of Islamic financial institutions in order to comply with internationally recognised Sharia standards and best practices

Abu Dhabi,