UAE to issue Dh1.1 billion treasury sukuk – The National
- Date: 26-Apr-2023
- Source: The National
- Sector:Financial Markets
- Country:UAE
UAE to issue Dh1.1 billion treasury sukuk – The National
The UAE is issuing a dirham-denominated treasury sukuk worth Dh1.1 billion ($299 million) as it diversifies its funding resources and supports the growth of the Islamic economy.
The T-sukuk will first be issued in two, three and five-year tranches, followed by a 10-year tenure sukuk at a later date, the Ministry of Finance said on Wednesday.
“The Ministry of Finance co-operates with all its partners, foremostly the Central Bank of the UAE, to attract investments and deploy them in Islamic economy channels,” said Minister of State for Financial Affairs Mohamed Al Hussaini.
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