Abu Dhabi, UAE – Abu Dhabi Securities Exchange (ADX) on Thursday launched the listing of a $353.9 million Green Sukuk by First Abu Dhabi Bank (FAB), marking the fifth Green debt instrument on ADX.
FAB is the United Arab Emirates’ largest bank and one of the world’s largest banking groups, with total assets of $326.7 billion.
The largest-ever $353.9 million Sukuk and the lowest-ever priced issuance in the $326.7 billion market by a UAE financial institution aims to support the UAE’s objectives in driving a green, diversified, and resilient economy.
“We’re delighted to announce the listing of FAB’s Green Sukuk, reaffirming our commitment as a catalyst for green investments and sustainable finance. The growing popularity of our green debt instruments on ADX reflects investors’ keen interest,” Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said. “At ADX, we take pride in offering tailored access to sophisticated choices, aligning with investors’ long-term goals. 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, unlocking new opportunities for investments that achieve important social and sustainability outcomes.”
“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 center for global finance and a gateway for innovation in capital markets,” Rostamani added.
Last month, ADX welcomed the listing of a $204.2 million Green Bond by Abu Dhabi Future Energy Company (Masdar), following an earlier listing of green bonds valued at $272.3 million by the Abu Dhabi National Energy Company (TAQA), and last year, Sweihan PV Power Company made a bond listing of $190.6 million green bonds.