Military and Strategic Journal
Issued by the Directorate of Morale Guidance at the General Command of the Armed Forces
United Arab Emirates
Founded in August 1971

2022-06-01

First Federal Treasury Bonds Auction Receives Big Bids

The UAE, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and payment agent, recently announced the results of the first auction of the dirham denominated federal Treasury Bonds of the UAE Government (T-Bonds). It had a benchmark auction size of AED 1.5 billion (US$400 million), which is part of the AED 9 billion T-Bonds issuance programme for 2022.
 
The launch of the T-Bond programme witnessed a strong demand through the six primary bank dealers, with bids received valued at AED 9.4 billion and an oversubscription by 6.3 times. The strong demand was spread across both tranches, with a final allocation of AED 750 million for the two-year tranche and AED 750 million for the three-year tranche, with a total issuance of AED 1.5 billion.
 
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, said that the first auction’s success is part of strengthening the UAE’s economic competitiveness and supporting the sustainability of economic growth, as the UAE continues to solidify its position as one of the most competitive and advanced economies in the world.
 

 

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