New UAE Retail Sukuk Programme; A Milestone in Investor Access
Update — 6 November 2026: This article covered the October 2025 launch of the Fractionalised T‑Sukuk route, with a minimum investment of AED 4,000. The Ministry now offers two routes: direct Retail T‑Sukuk from AED 1,000 and fractional purchases from AED 4,000. Check the Ministry’s current terms for eligibility, rates and fees.
The Ministry of Finance – UAE (MoF) is launching a retail version of the government-backed Islamic sovereign bonds (or “sukuk”) programme:
UAE residents and citizens can buy government-backed sukuk in two ways. The Ministry of Finance’s Retail T-Sukuk lets eligible investors subscribe to new issuances from AED 1,000 through the Dubai Financial Market (DFM) and receiving banks. The Fractionalised T-Sukuk lets investors buy fractions of existing listed sukuk from AED 4,000 through participating banks. Both pay profit twice a year, are issued in dirhams and follow a Shariah-compliant structure.
Ahmad Abdulla Ahli Advocates and Legal Consultants, a Dubai law firm, updated this guide on 2026. It replaces our October 2025 news post, which described the AED 4,000 programme before the first bank was named.
What is retail sukuk in the UAE?
Retail sukuk are UAE government Treasury Sukuk (T-Sukuk) opened to individual investors. A sukuk is a Shariah-compliant certificate that gives its holder a share in an underlying asset or contract and pays profit instead of interest. The Ministry of Finance issues T-Sukuk in dirhams under an Ijarah/Murabaha structure and says they were previously available mainly to institutional investors. Retail access began with the fractional programme announced on 24 October 2025 and expanded with the direct Retail T-Sukuk in June 2026.
H2: What is the difference between Retail T-Sukuk and Fractionalised T-Sukuk?
- Through participating UAE banks or digital platforms (which act as distributors for the government-issued sukuk).
- Check eligibility (UAE resident or citizen, bank-account requirements, documentation).
- Select the issuance or tranche: the sukuk will have a specific maturity date, profit payment schedule, etc.
| Feature | Retail T-Sukuk (direct) | Fractionalised T-Sukuk |
|---|---|---|
| What you buy | New issuances at par value | Fractional interests in existing listed sukuk |
| Minimum investment | AED 1,000 | AED 4,000 |
| How you buy | DFM platforms and receiving banks’ digital channels, during a subscription window | Participating banks’ digital platforms |
| Who can invest | UAE nationals and residents with a valid Emirates ID and a DFM National Investor Number (NIN) | UAE citizens and residents with a valid Emirates ID, subject to each bank’s terms |
| Maturity | Set for each issuance | Under one year up to five years, depending on available sukuk |
| Profit payments | Semi-annual | Semi-annual, pro-rata |
| Pricing | Issued at par | Market-based |
| Fees | Subject to broker and custodian terms | 0.25% to buy, 0.25% to sell, no redemption fee at maturity |
| Selling early | Tradable on Nasdaq Dubai after listing, through authorised brokers | Buy and sell through the participating bank |
Who can invest in UAE retail sukuk?
Subscription to the direct Retail T-Sukuk is open only to eligible UAE nationals and UAE residents. Each investor needs a valid Emirates ID and a DFM NIN. According to the June 2026 issuer FAQ, professional investors cannot subscribe to the retail offering. Units can still be bought and sold in the secondary market through Nasdaq Dubai brokers. The fractional route is open to UAE citizens and residents with a valid Emirates ID through a participating bank, and each bank sets its own onboarding conditions.
How do you buy retail sukuk?
For the direct Retail T-Sukuk: get a DFM NIN, wait for a subscription window, then subscribe through the DFM app, the iVestor app or a receiving bank’s digital channel. The Ministry announces windows on its issuance programme page.
For the fractional route: open the investment section of a participating bank’s app, choose a sukuk and place a buy order. The Ministry lists Emirates NBD, Emirates Islamic, ADIB, Mashreq, Ajman Bank, First Abu Dhabi Bank and Abu Dhabi Commercial Bank as partners. Which bank offers which route differs, so confirm with the bank first. When ADIB launched the fractional route in November 2025, it set a limit of AED 28,000 per transaction in steps of AED 4,000. Each bank sets its own limits and they can change.
What profit have the direct Retail T-Sukuk issuances paid?
The Ministry of Finance has run two direct issuances. Each pays a fixed profit rate, set per issuance and paid twice a year.
| First issuance | Second issuance | |
|---|---|---|
| Subscription window | 24–30 June 2026 | 23–28 September 2026 |
| Profit rate | 4.30% | 5.06% |
| Minimum | AED 1,000 | AED 1,000 |
| Tenor | See final terms | 5 years |
| Target size | AED 50 million | AED 50 million |
| Secondary trading | Nasdaq Dubai from 2 July 2026 | Nasdaq Dubai from early October 2026 |
Orders for the second issuance reached AED 285 million, about 5.7 times the target. The Ministry had not announced a third issuance when this page was updated. Check the issuance programme page before relying on any date.
Summary
In summary: the UAE government is for the first time opening up its sovereign Islamic bond programme to retail investors, with a low (for such instruments) minimum investment (AED 4,000) via participating banks, denominated in AED, offering periodic profit payments and return of principal at maturity. It marks a significant step in financial inclusion and the expansion of the sukuk market in the UAE.
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