The Ministry of Finance (MoF) has signed the 3rd agreement under the “Retail Sukuk” initiative with Emirates Islamic Bank, one of the leading Islamic financial institutions in the UAE, enabling UAE citizens and residents to invest in Treasury Sukuk (T-Sukuk) through its innovative digital platform.
The initiative will enable UAE citizens and residents to invest in fractional T-Sukuk in smaller denominations through the EI + Mobile Banking App. With a minimum investment of $1,089.18 (AED 4000), investors will receive a seamless and secure digital experience, in line with the Ministry’s efforts to broaden the investor base and promote financial inclusion across the UAE.
The initiative aims to broaden access to T-Sukuk, promote financial literacy, and instill a culture of saving and financial responsibility as a cornerstone of long-term financial sustainability in the UAE.
UAE nationals and residents with an Emirates ID or UAE PASS can complete registration online, fulfill KYC requirements, and create a risk profile directly on the platform, while also viewing T-Sukuk terms and transaction details.
H.E. Mariam Mohamed Al Amiri Assistant Undersecretary Government Finance Management, Ministry of Finance
“Our collaboration with Emirates Islamic Bank will contribute to significantly widening the reach of the Ministry’s initiatives to offer government financial instruments directly to individuals through secure and advanced digital channels. With leading national institutions joining the ‘Retail Sukuk’ initiative, we are further strengthening our efforts to enhance financial inclusion and giving more members of our community the opportunity to access stable, government-backed investment instruments.”
Farid AlMulla, Chief Executive Officer of Emirates Islamic, said that, “Emirates Islamic is proud to partner with the Ministry of Finance for the ‘Retail Sukuk’ initiative. This partnership reaffirms our continued prominence as a leading Shariah-compliant bank in the UAE. Enabling T-Sukuk on the EI + Mobile Banking App underscores the bank’s commitment to driving Islamic finance innovation.”
All T-Sukuk issued by the Ministry will be listed on the Emirates Islamic platform. Emirates Islamic offers a seamless experience for investors to subscribe or trade by providing the treasury instruments from its existing positions through primary allocations or secondary market transactions.
The bank will also ensure a transparent and user-friendly investment experience by organising awareness and educational sessions, introducing a dedicated FAQs section, and conducting regular investor surveys.
