Abu Dhabi: Abu Dhabi Securities Exchange (ADX) on Wednesday launched the listing of an Dh1.3 billion green sukuk by First Abu Dhabi Bank, marking the fifth green debt instrument on the stock exchange.
The largest-ever dirham sukuk and the lowest-ever priced issuance in the dirham market by a UAE financial institution aims to support the UAE’s objectives in driving a green, diversified and resilient economy.
Commenting on the listing, Abdulla Salem Alnuaimi, CEO of ADX, said: “The growing popularity of our green debt instruments on ADX reflects investors’ keen interest. This move not only creates opportunities for investors but also contributes to the UAE’s economic diversification and sustainability objectives.”
Hana Al Rostamani, Group Chief Executive Officer of FAB, said, “This is an important milestone for both green finance and Islamic finance in the UAE. FAB is the region’s pioneer bank for sustainable finance, having issued the region’s first ever green bond in 2017 and now the first AED denominated green issuance. Our AED-denominated green Sukuk’s
listing on ADX builds on that record, further elevating Abu Dhabi as a centre for global finance and a gateway for innovation in capital markets.”
Last month, ADX welcomed the listing of a $750 million green bond by Abu Dhabi Future Energy Company (Masdar), following an earlier listing of green bonds valued at $1 billion by the Abu Dhabi National Energy Company (TAQA), and last year, Sweihan PV Power Company made a bond listing of $700 million green bonds.