The United Arab Emirates Ministry of Finance announced the pricing and subscription timetable for the second issuance under its government-backed retail T-Sukuk programme on 22 September. The five-year sukuk carries an annual profit rate of 5.06%, with distributions due every six months. The target issue size was AED 50 million and the minimum subscription was AED 1,000. The ministry described the instrument as a Sharia-compliant sovereign investment backed by the UAE Government. The announcement states terms for this specific offering; it is not a general recommendation or a promise that an investor will earn a particular total return after considering market prices, fees or individual circumstances.

The subscription window opened on 23 September and closed on 28 September. The ministry’s operational timetable set allocation for 29 September, issuance and refunds of excess funds for 30 September, and listing with the start of secondary trading on Nasdaq Dubai for 1 October. Individual investors were asked to obtain a DFM National Investor Number if they did not already have one, then submit orders through approved digital channels. The timeline explains the stages from application to allocation and exchange listing. It does not guarantee that each applicant would receive the full amount requested, because the final allocation depends on the completed offering process.

Approved channels included Dubai Financial Market’s eIPO platform, the iVestor app, the DFM app and digital services offered by designated receiving banks. Emirates NBD was named lead receiving bank. Emirates Islamic, Abu Dhabi Islamic Bank, Ajman Bank, Mashreq, Abu Dhabi Commercial Bank and First Abu Dhabi Bank were listed as participating banks. The Ministry of Finance said it was working with DFM, Nasdaq Dubai, the Central Bank of the UAE and the banks to coordinate the process from subscription through trading. The offering was denominated in dirhams and structured to comply with Islamic finance requirements. Investors were directed to the formal offer documents and platform terms for the detailed conditions.

The programme is intended to broaden individual access to government securities and support development of the domestic dirham capital market. The AED 50 million figure was described as a target issue size, not as a final amount already allotted. If orders exceed the target, the allocation results determine how much is issued and how orders are handled; later published results should therefore be distinguished from the September offer terms. The five-year tenor, 5.06% annual profit rate and semi-annual distribution schedule describe this tranche. After listing, a holder’s ability to sell and the price available depend on market activity and trading conditions. A stated profit rate is not the same as a guarantee of liquidity or a fixed resale price.