Tuesday, February 27, 2024

Lists “green sukuk” denominated in dirhams on the Abu Dhabi market


Yesterday, the Abu Dhabi Securities Market announced the listing of 1.3 billion dirhams worth of green sukuk issued by First Abu Dhabi Bank. This marks the fifth listing of a green debt instrument on the Abu Dhabi Securities Market.

The issuance, the largest ever for UAE dirham-denominated sukuk and the lowest priced for an Emirati financial institution, aims to support the UAE’s goals in advancing a green, diversified and flexible economy.

Abu Dhabi Securities Market CEO Abdullah Salem Al Nuaimi said, “We are delighted to welcome the listing of First Abu Dhabi Bank’s Green Sukuk, confirming our commitment to green investments and sustainable financing. Access to innovative and diverse options that meet their needs and meet their goals. This strategy not only creates opportunities for investors but also contributes to achieving the goals of economic diversification and sustainability in the UAE.

For his part, Hana Al Rostamani, CEO of First Abu Dhabi Bank Group, said: “This listing represents an important achievement in the fields of green and Islamic finance in the UAE, and offers many investment opportunities that will allow us to achieve beneficial results in social and environmental conditions.” He continued: “First Abu Dhabi Bank is considered a pioneer of sustainable finance in the region, launching the first green bonds in 2017 and issuing the first dirham-denominated green debt instrument.”

Last month, the Abu Dhabi Securities Market listed $750 million worth of green bonds of Abu Dhabi Future Energy Company (Mastar), after Abu Dhabi National Energy Company (Dhaka) listed $1 billion worth of green bonds. A $700 million listing of $1 billion worth of green bonds by Sweehan Solar Photovoltaic Energy.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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