The UAE’s second Sovereign Retail T-Sukuk has officially been listed and started secondary-market trading on Nasdaq Dubai, giving individual investors greater flexibility to manage their holdings in the government-backed Sharia-compliant investment instrument.
The Ministry of Finance announced the listing and start of trading on October 2, 2026, following the successful completion of the subscription, allocation and settlement processes.
The five-year T-Sukuk has a target issuance size of AED 50 million and attracted subscription orders worth AED 285 million, equivalent to around 5.7 times the targeted issuance size.
Strong demand from retail investors
The second issuance attracted participation from a broad range of investors, with smaller subscriptions accounting for a significant share of applications.
According to the Ministry of Finance, investors subscribing AED 10,000 or less represented 75% of all subscription applications, while UAE nationals accounted for 69% of overall demand.
The offering also attracted investors from 110 nationalities, highlighting the international interest in UAE government-backed investment instruments. Women accounted for 17% of the total invested capital, while young investors under the age of 25 also showed strong participation.
Almost half of the unique subscribers were returning investors who had also participated in the programme’s inaugural issuance, according to the Ministry.
Trading provides greater flexibility
The launch of secondary-market trading is an important feature of the programme.
Investors can now buy or sell the listed T-Sukuk through authorised Nasdaq Dubai brokers, rather than having to hold the investment until maturity. Market makers and liquidity providers are supporting trading activity and helping provide liquidity in the market.
The second issuance has a five-year tenor, a minimum investment threshold of AED 1,000, and semi-annual profit distributions. The annual profit rate was set at 5.06% when subscriptions opened in September.
The ability to trade the instrument on the secondary market gives investors an additional option if their financial circumstances or investment objectives change.
Expanding access to government-backed investments
The Sovereign Retail T-Sukuk Programme was introduced by the Ministry of Finance to give UAE citizens and residents direct access to sovereign Sharia-compliant investment instruments that were previously mainly available to institutional investors.
The programme forms part of the UAE’s wider efforts to strengthen financial inclusion, encourage long-term saving and broaden participation in the domestic capital market.
The T-Sukuk are issued in UAE dirhams under a Sharia-compliant Ijarah/Murabaha structure, providing investors with access to government-backed investment opportunities.
Building the UAE’s retail investment market
The latest issuance follows strong demand for the programme’s inaugural tranche.
The first retail T-Sukuk issuance received subscription orders worth AED 445 million, nearly nine times its initial AED 50 million target. In response to the strong demand, the Ministry increased the issuance size to AED 100 million. The first issuance offered a two-year tenor and an annual profit rate of 4.30%.
The first tranche was subsequently listed on Nasdaq Dubai, with secondary-market trading beginning on July 2, 2026.
The strong response to both issuances suggests growing interest among individual investors in government-backed and Sharia-compliant investment products.
What the T-Sukuk means for investors
The second Sovereign Retail T-Sukuk combines several features designed to make sovereign investment more accessible to individuals: a relatively low minimum investment of AED 1,000, semi-annual profit distributions and access to secondary-market trading.
For the UAE, the programme also represents a broader effort to develop the local capital market and encourage a stronger culture of saving and investment among individuals and families.
With the second issuance now trading on Nasdaq Dubai, the Sovereign Retail T-Sukuk programme is becoming a more established part of the UAE’s retail investment landscape.