The UAE's sovereign retail T-sukuk attracted orders worth Dh445 million ($121 million), with the size of the offering doubling to Dh100 million on strong demand, the Ministry of Finance said.
The initial issuance of Dh50 million was oversubscribed by nearly nine times, the ministry said on Thursday.
The issuance, designed for individual investors, began trading on the secondary market on Nasdaq Dubai on Thursday.
The programme attracted a “diverse base of retail investors”, who accounted for 76 per cent of the total subscriber base, the ministry said. Emiratis held the largest share of subscribers at 72 per cent.
Issuance data showed investors under the age of 25 and women together accounted for 45 per cent of subscribers, underscoring the programme's success in advancing financial inclusion, the ministry said.
“The UAE continues to advance a resilient and inclusive economic model built on a sophisticated financial and legislative infrastructure,” said Mohamed Al Hussaini, Minister of State for Financial Affairs.
“The listing … 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.”
The programme builds on government efforts to encourage investment from Emiratis and foreign residents. Previously, only institutional investors were allowed to invest in government bonds.
This is distinct from the fractional T-sukuk and bonds initiative launched in November, in terms of the investment procedure and the source of the securities. The previous programme allowed investors to purchase fractional interests in existing sukuk traded at prevailing market prices, with a minimum investment of Dh4,000.
The programme also forms part of the ministry's broader efforts to expand participation in government-backed investment instruments that are accessible to a wider segment of the UAE population.
It supports greater public participation in the country's financial and investment ecosystem while promoting a culture of long-term saving and investment, the ministry said.
“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,” said Hamed Ali, chief executive of Nasdaq Dubai and Dubai Financial Market.
