UAE's second retail T-sukuk begins trading on Nasdaq Dubai
Orders reached AED285 million, about 5.7 times the AED50 million target, as the five-year sovereign instrument opened for secondary trading.
The Ministry of Finance said on Friday that the UAE's second five-year Sovereign Retail T-Sukuk has listed on Nasdaq Dubai and started trading on the secondary market, after subscription, allocation and settlement were completed.
Holders can now add to their position or sell before maturity through the exchange. Previously, buyers of a retail tranche had no route out until the instrument matured.
Demand ran to almost six times the target
Subscription orders reached AED285 million against a target issuance of AED50 million, a coverage ratio of roughly 5.7 times.
Smaller buyers made up most of the book. Applications of AED10,000 or less accounted for 75 percent of all subscriptions, and UAE nationals represented 69 percent of overall demand. Subscribers came from 110 nationalities.
Women accounted for 17 percent of invested capital. Investors under 25 were also active, and close to half of the unique subscribers had bought into the first tranche.
"Continued strong demand from individual investors reflects deep confidence in our national financial infrastructure and highlights our ongoing efforts to expand public participation in sovereign initiatives," said H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs.
Al Hussaini said trading on the exchange gives investors liquidity and flexibility over their assets while widening a savings habit among households.
Terms of the issue
- Five-year tenor
- Profit distributed every six months
- Minimum investment of AED1,000
- Subscription window from September 23 to 28, 2026
The low entry ticket keeps the instrument within reach of small savers, and the semi-annual payout gives holders a recurring return rather than a single payment at maturity.
Market making in place
Hamed Ali, chief executive of Nasdaq Dubai and Dubai Financial Market, said the listing points to rising appetite for Sharia-compliant instruments among individual investors.
"By providing advanced trading infrastructure and dedicated market making, Nasdaq Dubai and DFM continue to enhance liquidity, broaden market access and empower investors with flexible secondary trading capabilities," he said.
Buy and sell orders go through authorised brokers. Market makers and liquidity providers keep the order book running continuously, which the exchange says is what allows holders to trade in and out as their circumstances change.
The programme is part of the ministry's push to deepen the domestic dirham-denominated capital market and give residents a government-backed place to park savings. The first tranche listed earlier, and the ministry has said the structure is meant to draw in investors who would not normally buy sovereign debt.
