Today, 30 September 2026, is issuance day for the UAE Ministry of Finance's second sovereign retail T-Sukuk offering. Investors who subscribed get their allocations today, and any excess subscription money is refunded by the end of the day. Tomorrow, 1 October 2026, the sukuk lists on Nasdaq Dubai and secondary-market trading begins. The headline number: a 5.06% profit rate.
A sukuk is the Shariah-compliant cousin of a bond. Instead of paying interest (which is prohibited under Islamic finance), a sukuk pays a "profit rate" from the returns of underlying assets. "Sovereign" means it is issued by the government — here, the UAE Ministry of Finance — which makes it one of the safest dirham-denominated instruments available. "Retail" means it was designed for ordinary savers, not just banks and institutions, with digital subscription and small minimum tickets.
| Detail | This issuance |
|---|---|
| Issuer | UAE Ministry of Finance |
| Profit rate | 5.06% |
| Currency | UAE dirham (AED) |
| Subscription closed | 28 September 2026 |
| Allocation | 29 September 2026 |
| Issuance & refunds | 30 September 2026 |
| Listing & secondary trading | 1 October 2026, Nasdaq Dubai |
| Lead receiving bank | Emirates NBD |
Participating receiving banks include Emirates Islamic, Abu Dhabi Islamic Bank, Ajman Bank, Mashreq, Abu Dhabi Commercial Bank and First Abu Dhabi Bank. The programme is delivered with the Central Bank of the UAE, Nasdaq Dubai (acting as central securities depository, settlement and listing platform) and Dubai Financial Market.
A 5.06% government-backed profit rate is worth comparing with whatever your bank currently offers:
| Factor | T-Sukuk | Typical bank fixed deposit |
|---|---|---|
| Backing | Sovereign (UAE government) | Bank balance sheet |
| Return type | Fixed 5.06% profit rate | Fixed interest, varies by bank/tenure |
| Shariah compliance | Yes, by structure | Only at Islamic banks |
| Liquidity | Tradable on Nasdaq Dubai from 1 Oct | Breakable, usually with penalty |
| Currency risk | None extra — AED is pegged to the US dollar | |
Tip: pull up your own bank's current fixed-deposit rate before deciding. If it is below 5.06%, the sukuk's government backing plus higher rate makes a strong case — but compare like with like on tenure and minimum amounts.
This issuance is part of a bigger plan: the Ministry of Finance is deliberately building a dirham-denominated domestic capital market and pulling more retail investors into it. The same theme is running through Dubai today — Al Masraf and the UAE Banks Federation are hosting the inaugural conference on the UAE Islamic Finance and Halal Industry Strategy 2025–2031, which targets AED 2.56 trillion in local Islamic finance assets by 2031. Expect more retail sukuk-style products: this "second issuance" wording is a clear signal the programme will continue.
No — subscriptions for the second issuance closed on 28 September 2026. The sukuk lists and starts trading on Nasdaq Dubai on 1 October, so you may be able to buy it on the secondary market.
Yes. Sukuk are structured to be Shariah-compliant — they pay a profit rate from underlying assets rather than interest. The programme is overseen within the UAE's Islamic finance regulatory framework.
Excess funds from oversubscribed applications are refunded by 30 September 2026 to the account you subscribed from. Check your account today; contact your receiving bank if it hasn't arrived.
Planning your savings? Try our compound interest calculator to see what 5.06% does to your money over time.
