• The listing marks the fifth green debt instrument on ADX

Abu Dhabi, United Arab Emirates:

Abu Dhabi Securities Exchange (ADX) today launched the listing of an AED 1.3 billion Green Sukuk by First Abu Dhabi Bank (FAB), notably 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 AED 1.2 trillion.

The largest-ever AED Sukuk and the lowest-ever priced issuance in the AED 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, Chief Executive Officer of ADX, said: " 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. 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 centre for global finance and a gateway for innovation in capital markets.”

Last month, ADX welcomed the listing of a USD 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 US$700 million green bonds.

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About Abu Dhabi Securities Exchange:

Abu Dhabi Securities Exchange (ADX) was established on November 15, 2000, by Local Law No. (3) Of 2000, the provisions of which vest the market with a legal entity of autonomous status, independent finance, and management.  The Law also provides ADX with the necessary supervisory and executive powers to exercise its functions. On March 17, 2020, ADX was converted from a "Public Entity" to a "Public Joint Stock Company PJSC" pursuant to law No. (8) of 2020. ADX is part of ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy.

ADX is a market for trading securities; including shares issued by public joint stock companies, bonds issued by governments or corporations, exchange traded funds, and any other financial instruments approved by the UAE Securities and Commodities Authority (SCA). ADX is the second largest market in the Arab region and its strategy of providing stable financial performance with diversified sources of incomes is aligned with the guiding principles of the UAE "Towards the next 50" agenda. The national plan charts out the UAE's strategic development scheme which aims to build a sustainable, diversified and high value-added economy that positively contributes to transition to a new global sustainable development paradigm.    

ADX
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication
Email: ALKhateebA@adx.ae

About First Abu Dhabi Bank:

Headquartered in Abu Dhabi with a strategic global footprint across 20 markets, FAB is the finance and trade gateway to the Middle East and North Africa region (MENA). With total assets of AED 1.2 trillion (USD 323 billion) as of September-end 2023, FAB is among the top 50 banks globally by market capitalisation and one of the world’s largest banking groups. The bank provides financial expertise to its wholesale and retail client franchise across four business units: Investment Banking, Corporate and Commercial Banking, Consumer Banking, and Global Private Banking. FAB is listed on the Abu Dhabi Securities Exchange (ADX) and rated Aa3/AA-/AA- by Moody’s, S&P, and Fitch, respectively, with a stable outlook. On sustainability, FAB holds an MSCI rating of ‘A’, also ranked among the top 10% of banks globally by Refinitiv’s ESG Scores and the best performer in the MENA region. FAB is a strategic pathway partner of the 28th UN Climate Change Conference of Parties (COP28), which is being held in the UAE from November 30 to December 12, 2023.

For further information, visit: www.bankfab.com