Abu Dhabi Stock Exchange receives the first listing of green sukuks denominated in dirhams

Today, Wednesday, the Abu Dhabi Securities Exchange received the first listing of dirham-denominated sukuk.

The Abu Dhabi Market stated in a statement issued today, Wednesday, that the value of the green sukuks that were listed is estimated at approximately 1.3 billion dirhams.

The market indicated that the green sukuks were issued by First Abu Dhabi Bank, and this represents the fifth listing of a green debt instrument on the Abu Dhabi Securities Market.

First Abu Dhabi Bank is the largest bank in the United Arab Emirates and one of the largest financial institutions in the world, with total assets amounting to 1.2 trillion dirhams.

This issuance, which is the largest of its kind for a sukuk denominated in the UAE dirham and at the lowest pricing for an Emirati financial institution, aims to support the UAE’s goals in advancing a green, diversified and flexible economy.

Abdullah Salem Al Nuaimi, CEO of the Abu Dhabi Securities Market, said: At the Abu Dhabi Securities Market, we focus on providing investors access to innovative and diverse options that serve their needs and meet their long-term goals.

He continued: This strategy not only works to create opportunities for investors, but also contributes to achieving the goals of economic diversification and sustainability in the United Arab Emirates.

Hana Al Rostamani, CEO of First Abu Dhabi Bank Group, said: This listing represents an important achievement in the green and Islamic finance sectors in the United Arab Emirates, and presents many investment opportunities that will allow achieving fruitful results on the social and environmental levels.

She added: “The listing of our green bonds denominated in the UAE dirham on the Abu Dhabi Securities Market contributes to consolidating our leading position and enhancing Abu Dhabi’s position as a global financial center and a platform for innovation in the capital markets.”

Last month, the Abu Dhabi Securities Exchange listed green bonds of the Abu Dhabi Future Energy Company (Masdar) worth 750 million US dollars, which was preceded by the listing of green bonds worth 1 billion US dollars by the Abu Dhabi National Energy Company (Taqa). It was also preceded last year by the listing of green bonds worth 700 million US dollars. One million US dollars by Sweihan Solar Photovoltaic Energy Company.