The UAE Ministry of Finance has published its "Federal Government Public Debt 2022–2025" report, offering a comprehensive account of the country's sovereign debt strategy and its progress in building a world-class public financing framework.
The report documents the UAE's development of a structured federal debt market through December 2025, covering both dirham-denominated instruments and US dollar international bonds. By the end of the period, the Ministry had conducted 23 Islamic Treasury Sukuk auctions totalling AED27 billion and 8 Treasury Bond auctions worth AED11.2 billion, all listed on Nasdaq Dubai. Its four international bond issuances, with a combined value of $10 billion, were listed on both the London Stock Exchange and Nasdaq Dubai, drawing subscription rates exceeding five times the offering size.
The UAE maintained strong sovereign credit ratings throughout the period, holding an Aa2 from Moody's, AA- from Fitch, and AA from S&P Global, all with a stable outlook.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister and Minister of Finance, said public debt management has been central to balancing spending efficiency with resource sustainability, and to maintaining the country's credit standing and funding flexibility in a shifting global economy.
Among the initiatives highlighted is the Fractional Treasury Sukuk and Bonds programme, launched in November 2025 to open the sovereign debt market to retail investors at a minimum entry point of AED4,000. The initiative drew around 310 investors and AED7.10 million in total investments.
The report also details the risk management framework employed by the Public Debt Management Office, alongside international best practices adopted by the UAE, reinforcing its position as a transparent and investment-friendly sovereign borrower.
News Source: Emirates News Agency
