Terms and Conditions
The number of Sukuk Trust Certificates of [UAE Federal Government Sukuk
Programme Ltd] (the “Issuer”) that are offered for subscription by the Issuer
to Retail Investors is set out in the Information Memorandum (“IM”). The terms
and conditions set out herein apply only to Retail Investors.
Capitalized terms set out herein shall have the meaning given to them in the
IM unless stated otherwise in this Terms & Conditions or the subscription
form (“Application”).
“Applicant” means a Retail Investor who submits, or on whose behalf a duly
authorized representative or guardian submits, an Application to subscribe for
Sukuk Trust Certificates through the DFM e-Subscription Platform or an
appointed Receiving Bank. References in these Terms & Conditions to an
“Applicant” shall be construed as references to an Applicant.
Offer Price:
The Sukuk Trust Certificates are being offered at an offer price (“Offer
Price”) that has been disclosed in the issuance and listing announcement
published on 17 June 2026. The profit rate (“Offer Profit Rate”) will be
determined following pricing of the institutional tranche on 23 June 2026 in
accordance with the published UAE Ministry of Finance methodology and with the
framework set out in the IM and shall be announced on 23 June 2026.
Minimum Subscription Size:
The minimum subscription for Sukuk Trust Certificates has been set at AED
1,000 with any additional investment to be made in increments of AED 1,000.
Documents Accompanying Subscription Applications:
Retail Investors shall submit the following documents along with their
Application:
- NIN details;
- copy of a valid Emirates ID; and
- In case the signatory is different from the Applicant:
-
the duly notarized power of attorney held by that signatory or a
certified copy by UAE-regulated persons/bodies, such as a notary public, or as
otherwise duly regulated in the country;
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the original passport/Emirates ID of the signatory for verification of
signature and a copy of the original passport/Emirates ID; and
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a copy of the passport/Emirates ID of the Applicant for verification
of signature; or,
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In case the signatory is a guardian of a minor, the following will be
submitted:
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original and copy of the guardian’s passport/Emirates ID for
verification of signature;
- original and copy of the minor’s passport; and
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if the guardian is appointed by the court, original and copy of the
guardianship deed attested by the court and other competent authorities (e.g.
notary public).
Notice of Allocation:
A notice to successful Retail Investors will be sent by way of SMS initially
confirming the acceptance of subscription and a second one for the number of
Trust Certificates allocated. This will be followed by a notice setting out
each Applicant’s allocation which will be sent by email.
Method of refunding surplus amounts to Retail Investors:
By no later than 1 July 2026 (being within one (1) working day of the closing
date of the subscription), the Sukuk Trust Certificates shall be allocated to
Retail Investors and, at the latest within five (5) working days of such
allocation, the surplus subscription amounts, and any profit resulting
thereon, shall be refunded to Retail Investors who did not receive Sukuk Trust
Certificates.
The surplus amount and shall be returned to the same Applicant account or
payment channel through which the original subscription amount was paid. For
Applications submitted through the DFM App or iVestor, refunds relating to
payments made through iVestor shall be credited to the Applicant’s iVestor
account, while payments made through the Direct Debit System (DDS), the UAE
Central Bank Payment Gateway or Wire Transfer shall be returned to the same
originating bank account, subject to successful verification and the
applicable processing procedures.
For Applications submitted through a Receiving Bank e-channels, refunds shall
be processed by that Receiving Bank to the Applicant through the original
payment account or in accordance with its applicable procedures. The
difference between the subscription amount accepted by the Issuer for an
Applicant, if any, and the Application amount paid by that Applicant will be
refunded pursuant to the terms of the IM.
Applicant’s obligations and confirmations:
The Applicant confirms that he/she has reviewed the IM, including (without
limitation) the “Important Notice” and “Risk Factors” sections, and agrees to
be bound by the terms and conditions contained in the IM and this Application.
The Receiving Banks, and the Issuer will deem any additional conditions, other
than those set out herein, attached to any Application as null and void. By
acquiring Trust Certificates, the Applicant agrees to accept the IM of the
Issuer including the Final Terms.
Upon completion and submission of this Application, the Applicant shall be
deemed to have acknowledged and accepted the following:
-
The Applicant has applied to pay the amount specified in this
Application to buy Trust Certificates at the Offer Price
-
The Applicant has authorized the Issuer and/or the Receiving
Banks to send to the Applicant the allotment notice and the refunded amount,
by email, at the Applicant’s own risk, or to the same Receiving Bank where the
Applicant has submitted his application.
-
The Applicant shall not withdraw, cancel, or modify the
Applicant’s Application at any time after submission to a Receiving Bank.
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The Applicant is responsible for the truthfulness, accuracy, and
completeness of all information and documents submitted as part of the
Application, including the Applicant’s NIN with the DFM.
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The Applicant ascertains that his/her Application complies with
the laws of the UAE and the laws of the jurisdiction where the Applicant
resides and the laws of the country of which the Applicant is a citizen and
shall bear all responsibility and liability arising in case the Applicant’s
investment does not comply with such laws.
-
The Applicant acknowledges and accepts that, if any of the
provisions in this Application and these terms and conditions contradict any
part of the IM, the IM shall prevail.
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Retail Investors must pay the subscription amount in full at the
time of Application using a payment method available through the selected
channel. Payment by cheque, including a manager’s cheque, is not accepted.
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The Applicant shall comply with all applicable Nasdaq Dubai
rules and regulations as may be in force from time to time.
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The Applicant acknowledges that holding a DFM NIN and receiving
an allocation of Sukuk Trust Certificates does not, by itself, enable
secondary market trading. To buy or sell the Sukuk Trust Certificates after
listing, the Applicant must hold an active trading account with a broker
and/or trading member authorized to trade on Nasdaq Dubai.
Method of payment:
- By debiting the Applicant’s account at the Receiving Bank.
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Online channels - Electronic Subscription subject to the terms
and conditions of the IM and respective Receiving Bank.
Important Dates for Method of payment:
Subscriptions funded through DDS (Direct Debit), the UAE Central Bank Payment
Gateway and Wire Transfer will close two days before the Subscription Closing
Date due to settlement timeout considerations associated with these channels.
Applicants must complete payment within the cut-off time displayed on the
relevant subscription channel.
The iVestor and Receiving Bank subscription channels will remain available
until the Subscription Closing Date and time, subject to their respective
operating procedures and any channel-specific cut-off displayed to Applicants.
Each Applicant, its representatives and heirs, as the case may be, hereby
acknowledges and agrees that it shall indemnify the Issuer and the Receiving
Banks and their respective directors, officers, agents, employees and
affiliates (each an "Indemnified Person") in respect of any and all
liabilities, claims, actual damages, actual costs (excluding costs of funding
(whether in the form of interest or otherwise)), expenses and actual loses
(excluding opportunity losses) incurred by any Indemnified Person arising out
of or in connection with an Applicant's and/or its representatives and heirs
non-compliance with the terms and conditions of the Application and the
Invitation, and/or for breach of any confirmations, warranties and
representations made by or on behalf of an Applicant under or in connection
with its Application.
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