The Ministry of Finance announced the official listing and commencement of secondary market trading of the UAE's inaugural Sovereign Retail T-Sukuk Programme, following the successful completion of its inaugural sovereign issuance, which was designed specifically for individual investors.
To mark the occasion, H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, rang the opening bell at Nasdaq Dubai alongside H.E. Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, and Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market, in the presence of senior government officials, banking sector partners, and members of the media.
This milestone marks the culmination of a comprehensive strategic effort to broaden participation in the financial ecosystem and provide innovative sovereign investment instruments that foster a culture of saving and long-term investment across the UAE.
Exceptional Investor Demand
The inaugural offering recorded exceptional investor demand, exceeding official expectations, with subscription requests reaching AED 445 million, achieving an oversubscription of nearly 9 times the target issuance size of AED 50 million. In response to the strong investor demand, the Ministry increased the issuance size to AED 100 million.
The programme also attracted a broad and diverse base of retail investors, with retail investors subscribing up to AED 10,000 representing the largest segment of subscribers, accounting for 76% of the total subscriber base. UAE nationals represented the largest share of subscribers, accounting for 72% of the total subscriber base.
The data also showed strong participation from young investors under the age of 25 and women, who together accounted for 45% of the total subscriber base, underscoring the programme's success in advancing financial inclusion.
Mobilising National Capital
H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said: "The UAE continues to advance a resilient and inclusive economic model built on a sophisticated financial and legislative infrastructure that aligns with the highest international standards. The listing of the country's inaugural Sovereign Retail T-Sukuk Programme reflects the Ministry's strategic vision to strengthen the efficiency of domestic capital markets and diversify sovereign funding sources, ensuring sustainable financial resources while providing highly secure investment solutions that reinforce the UAE's long-term financial stability."
HE added: "The exceptional investor demand for the inaugural offering, which exceeded expectations and achieved record levels of oversubscription, reflects the growing financial and investment awareness among members of society. It also demonstrates the programme's success in broadening participation in government investment instruments and advancing financial inclusion by providing secure and trusted investment opportunities for all segments of society."
HE concluded: "This issuance represents an important strategic instrument for deepening the integration between fiscal policy and the country's key economic sectors by mobilising national capital and directing it towards initiatives that support comprehensive and sustainable development. The Ministry of Finance remains committed to fostering an enabling environment for financial innovation through close collaboration with the Central Bank of the UAE and the country's financial markets, further strengthening the UAE's global competitiveness as a leading and sustainable financial centre offering trusted saving and investment opportunities that meet the aspirations of all segments of society."
Media Briefing
Following the opening bell ceremony, the Ministry of Finance hosted a media briefing, which commenced with opening remarks by H.E. Younis Haji AlKhoori, Undersecretary of the Ministry of Finance.
HE described the listing of the inaugural Sovereign Retail T-Sukuk Programme on Nasdaq Dubai as a significant milestone in supporting the development of a more sustainable economy while creating meaningful opportunities for individuals to contribute to the UAE's ongoing journey of growth and prosperity.
"The Ministry of Finance has worked closely with the Central Bank of the UAE and our partners across the financial markets and banking sector to design this programme as a strategic bridge between the country's sovereign financing objectives and the long-term saving aspirations of individual investors," HE said.
"The launch of this landmark programme also supports the objectives of the UAE's Year of Family 2026 by providing financial solutions that strengthen household financial resilience while promoting a culture of sound financial planning among family members."
Growing Investment Awareness
H.E. Younis Haji Al Khoori added: "The strong response during the subscription period clearly reflects growing investment awareness among both UAE nationals and residents, as well as the high level of confidence in the UAE Government's strong financial standing and the secure investment environment it has built. The Ministry of Finance remains committed to advancing financial inclusion and deepening the country's capital markets. Through this issuance, we have successfully broadened access to government-backed investment opportunities, enabling a wider segment of society to diversify their portfolios through highly secure, Shariah-compliant sovereign instruments that offer the highest standards of transparency, low risk and trading efficiency."
Expanding Access Through the Capital Markets
In his remarks during the event, Hamed Ali, Chief Executive Officer of Nasdaq Dubai and Dubai Financial Market (DFM), said:“The listing of the UAE's inaugural Sovereign Retail T-Sukuk Programme marks an important step in the continued development of the country's capital markets. By lowering the barrier to entry for government-backed fixed-income investments and bringing them to a transparent, regulated marketplace, this programme opens the door for more individuals to participate in an asset class that has traditionally been beyond the reach of many retail investors. We are proud to support the Ministry of Finance in broadening market participation and expanding access to investment opportunities.”
The event also featured a comprehensive presentation by the Ministry of Finance team, outlining the trading mechanisms and the key investment benefits of the Sovereign Retail T-Sukuk Programme. The media briefing concluded with an interactive question-and-answer session, followed by a series of media interviews with officials from the Ministry of Finance and representatives of Nasdaq Dubai, Dubai Financial Market (DFM) and the participating banks.
The event also featured a comprehensive presentation by the Ministry of Finance team, outlining the trading mechanisms and the key investment benefits of the Sovereign Retail T-Sukuk Programme. The media briefing concluded with an interactive question-and-answer session, followed by a series of media interviews with officials from the Ministry of Finance and representatives of Dubai Financial Market (DFM) and the participating banks.
A Milestone Built on Strategic Partnerships
The official listing marks the successful completion of a subscription period that ran from 24 June to 30 June 2026, attracting strong investor demand and reinforcing confidence in government-backed investment instruments structured in accordance with the principles of Islamic Shariah.
The successful delivery of the programme reflects close collaboration between the Ministry of Finance and the Central Bank of the UAE (CBUAE), alongside Nasdaq Dubai and the Dubai Financial Market (DFM), with strong support from a broad network of banking partners, including Emirates NBD Bank, Emirates Islamic Bank (EIB), Abu Dhabi Islamic Bank (ADIB), Mashreq Bank, and Ajman Bank.
The inaugural listed issuance carries significant strategic value, with a total initially announced issuance size of AED 50 million, was upsized to AED 100 million to capitalise on strong investor demand and broad market participation and a minimum investment threshold of AED 1,000, making sovereign investment opportunities more accessible and enabling broader participation by individual investors.
The inaugural Sovereign Retail T-Sukuk Programme had a two-year tenor and offered a profit rate of 4.30% per annum, with returns distributed every six months. The sukuk are now available for trading on the secondary market through authorised exchange brokers and are supported by dedicated market makers and liquidity providers to ensure efficient price discovery, enhance market liquidity and facilitate seamless trading.
The listing broadens access to government-backed, Shariah-compliant investment opportunities through a transparent and regulated marketplace, supporting the continued development of the UAE's domestic capital markets while encouraging a culture of long-term saving and investment.
This further strengthens Nasdaq Dubai's role as one of the world's leading international venues for Sukuk and fixed income listings. The exchange currently hosts more than USD 98.6 billion in outstanding Sukuk listings and over USD 141 billion in outstanding debt securities, supporting issuers from across the region and international markets while reinforcing Dubai's position as a global centre for Islamic finance.
