UAE introduces debut retail Treasury sukuk programme
The UAE’s Ministry of Finance has launched its inaugural sovereign retail Treasury sukuk (T-sukuk) programme to broaden participation of retail investors in government investment instruments.
The government-backed, Shariah-compliant investment instrument offers a minimum subscription amount of $373, equivalent to 1,000 Emirati dirhams, and will be delivered through an IPO-style subscription framework, state-run news agency WAM reported.
The media body said that details of the debut issuance, including its profit rate, tenor and subscription period will be announced shortly. However, it added that the Shariah-compliant instrument will be traded on Nasdaq Dubai following its listing.
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