Money & BusinessUAE
UAE to launch its first local currency T-bonds
The United Arab Emirates will soon sell Treasury bonds denominated in local currency for the first time, seeking to raise 9 billion dirhams with eight auctions between May and the end of the year, the finance ministry said on Twitter.
The T-bonds will be issued with varying tenors of two, three and five years in an initial phase and a 10-year tenor in the medium term.
Abu Dhabi Commercial Bank, Emirates NBD, First Abu Dhabi Bank, HSBC, Mashreq and Standard Chartered are primary dealers for the T-bonds.
