UAE plans to issue treasury bonds to individuals

Abu Dhabi: The UAE is planning to launch treasury bonds tailored for individual investors in the UAE, in an initiative to diversify investment opportunities currently available in the market.

Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, said the primary aim behind the issuance of treasury bonds is to introduce fresh investment instruments in the market, catering to both investors and individual investors soon.

The move seeks to offer a broader spectrum of savings options beyond the conventional choices such as real estate, stocks, or bank deposits.

Al Khoori explained that the issuance of individual bonds does not have a set timeline, as the ministry is currently focused on the issuance of treasury bonds, issued every six weeks, in collaboration with the UAE Central Bank.

The Undersecretary highlighted that the key goal of the public debt strategy is to ensure the availability of the necessary liquidity for the country's financial and banking sector to enable it to purchase bonds to fulfil specific requirements.

On corporate tax, Al Khoori said: "There is no impact of the corporate tax on the growth of the number of companies in the country in 2023. Government incentives, along with updates and additions to existing laws and regulations, as well as Cabinet decisions, have all played a significant role in attracting a large number of companies. This includes both the establishment of new headquarters and their relocation to the UAE."