Mohamed Bin Hadi Al Hussaini, UAE’s Minister of State for Financial Affairs, rang Nasdaq Dubai’s market-opening bell to celebrate the listing of the five-year tranche dirham-denominated Treasury Bonds (T-Bonds) issued by the UAE Federal Government.
The bell ringing ceremony was attended by Hamed Ali, CEO of Nasdaq Dubai and CEO of Dubai Financial Market (DFM), and a number of senior bank officials.
The five-year tranche T-Bonds were well received by regional investors, with bids totaling 4.65 billion dirhams and being oversubscribed by 6.2 times. This reflects the robustness of the national economy and strong credit rating by international rating agencies.
In May 2022, the UAE, represented by the MoF as the issuer, in collaboration with the CBUAE as the issuing and payment agent, issued the dirham-denominated T-Bonds of the UAE Government (T-Bonds), in two and three-year tenures. Six agent banks have been appointed by the MoF as primary dealers for participants in the primary market auction of the T-Bonds and to actively develop the secondary market. These banks are Abu Dhabi Commercial Bank (ADCB), Emirates NBD (ENBD), First Abu Dhabi Bank (FAB), HSBC, Mashreq Bank, and Standard Chartered.
