The Ministry of Finance (MoF) has signed its third agreement under the “Retail Sukuk” initiative with Emirates Islamic Bank, one of the UAE’s leading Islamic financial institutions, enabling UAE citizens and residents to invest in Treasury Sukuk (T-Sukuk) via the bank’s innovative digital platform.
This initiative allows UAE nationals and residents to invest in fractional T-Sukuk in smaller denominations through the EI + Mobile Banking App. With a minimum investment of AED 4,000, investors benefit from a seamless and secure digital experience, aligning with the Ministry’s efforts to broaden the investor base and promote financial inclusion across the UAE. The initiative aims to expand access to T-Sukuk, enhance financial literacy, and foster a culture of saving and responsible financial management as a foundation for long-term financial sustainability in the country.
UAE citizens and residents with an Emirates ID or UAE PASS can register online, complete KYC requirements, create a risk profile, and access T-Sukuk terms and transaction details directly on the platform.
Mariam Mohamed Al Amiri, Assistant Under-Secretary of Government Finance Management at the Ministry of Finance, said, “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.”
Al Amiri added, “This initiative helps instill a culture of saving and sustainable investment among Emiratis and residents, while also strengthening the growth of the Islamic finance sector and supporting the development of local capital markets. By expanding institutional participation in offering secure and transparent financial products, we will reinforce the foundations of financial sustainability and contribute to the growth of key sectors and the UAE’s sustainable economic development.”
Farid AlMulla, Chief Executive Officer of Emirates Islamic, said, “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 in driving Islamic finance innovation.”
Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic, added, “The Retail Sukuk initiative by the Ministry of Finance is truly a groundbreaking innovation. At Emirates Islamic, our focus remains on developing and delivering sophisticated products that cater to the evolving requirements of retail investors, thereby giving them access to wealth-building opportunities while adhering to the principles of Islamic Sharia.”
Broader framework for partnerships
All T-Sukuk issued by the Ministry will be available on the Emirates Islamic platform. The bank provides a seamless experience for investors to subscribe or trade, offering treasury instruments through primary allocations or secondary market transactions. Emirates Islamic will also ensure a transparent and user-friendly investment journey by organizing awareness sessions, providing a dedicated FAQs section, and conducting regular investor surveys.
(Inputs from WAM)
