UAE issues $299.5m worth of Islamic treasury sukuk in dirhams

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Wed, 2023-04-26 16:01

RIYADH: The UAE has announced launching an Islamic treasury sukuk, also known as T-sukuk, with a benchmark auction size of 1.1 billion dirhams ($299.5 million), as it eyes developing a local currency bond market. 

Issued by the Ministry of Finance in collaboration with the Central Bank of the UAE, the dirham-denominated T-sukuk will help the emirate diversify its financing resources and strengthen the local financial and banking industry, the Emirates News Agency, WAM, reported.   

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