Dubai, UAE: Emirates NBD Bank PJSC, one of the largest banking groups in the Middle East, has become the first financial institution to benefit from a fee waiver launched by the Dubai Financial Services Authority (DFSA).

During COP28, in December 2023, DFSA Chief Executive, Ian Johnston; announced the decision to waive all regulatory fees for issuers wishing to list sustainability-related debt securities in the Dubai International Financial Centre (DIFC) throughout 2024.

The fee waiver was adopted to support the efforts of market participants who wish to list sustainability-related debt securities in the DIFC, and ultimately to accelerate the growth of sustainable capital markets in the Centre.

The latest issuance to Emirates NBD Bank PJSC, demonstrates how the DFSA’s innovation is having an impact on the financial landscape, fostering a positive shift towards sustainable practices.

DFSA Chief Executive, Ian Johnston, expressed enthusiasm at the recent listings stating: “The DFSA recognises the pivotal role that financial institutions play in promoting sustainability and addressing environmental and social challenges. By participating in the fee waiver, institutions are taking a proactive step towards adopting more sustainable financial practices.”

This strategic move not only encourages sustainable investments but also reflects a collective commitment to addressing global challenges, demonstrating the influential role regulators play in steering the financial sector toward a more sustainable future.

The DFSA is seeing more firms submit applications to become beneficiaries of the fee waiver and are processing pending applications. All new and repeat issuers that make a relevant application to the DFSA are eligible.

To find out more about the DFSA’s approach to sustainable finance, please contact the DFSA.

To read the DFSA brochure on COP28, click here.

For more information on the DFSA’s streamlined approach to debt capital markets, click here.

Markets team at markets@dfsa.ae.

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For further information, please contact:
Corporate Communications
Dubai Financial Services Authority
Level 13, The Gate, West Wing
Dubai, UAE
Email: DFSAcorpcomms@dfsa.ae
www.dfsa.ae 

The Dubai Financial Services Authority (DFSA) is the independent regulator of financial services conducted in and from the Dubai International Financial Centre (DIFC), a purpose built financial free zone in Dubai. The DFSA's regulatory mandate covers asset management, banking and credit services, securities, collective investment funds, custody and trust services, commodities futures trading, Islamic finance, insurance, crowdfunding platforms, money services, an international equities exchange and an international commodities derivatives exchange. In addition to regulating financial and ancillary services, the DFSA is responsible for administering Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) legislation that applies to regulated firms and Designated Non-Financial Businesses and Professions in the DIFC. Please refer to the DFSA's website for more information.

Ian Johnston was appointed Chief Executive of the DFSA in September 2022. He previously served as the DFSA’s Chief Executive from 2012-2018. A lawyer by background, Ian had several senior executive roles in the private sector, including as CEO of one of Australia’s major trustee companies. The second half of his career being in regulation, Ian was an Executive Director at the Australian Securities and Investments Commission; Special Advisor at the Hong Kong Securities and Futures Commission; and between 2019 and 2022, consulting to and advising a number of financial regulators in Europe, Asia and the Middle East.