According to Younis Haji Al Khoori, undersecretary of the UAE Ministry of Finance (MoF), the total value of bonds and sukuk issued by the ministry in 2023 amounted to approximately $2 billion (AED7.7 billion).
Al Khoori mentioned that the ministry has plans to issue bonds and Sukuk worth $1.29. billion (AED5 billion) for the first quarter of 2024.
During the Asian Financial Forum in Hong Kong, Al Khoori, speaking to the Emirates News Agency (WAM), emphasized the remarkable achievements of the Islamic Treasury Sukuk launch in 2023. The Sukuk, valued at AED1.1 billion, garnered strong demand, with bids totaling AED8.3 billion and an oversubscription rate of 7.6 times.
Read more: Heavy demand for UAE bonds despite recession fears
Al Khoori highlighted that bond offerings continued to attract high-quality investors, generating robust demand.
The UAE holds the position of Hong Kong’s largest trading partner in the Middle East, with non-oil trade between the two sides reaching $6 billion (AED22.2 billion) in the first half of 2022.
In June 2019, both parties signed an agreement to promote and safeguard investments, aiming to create a favorable investment environment.
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