Abu Dhabi Islamic Bank, one of the leading global Islamic banks, is pleased to list the world’s first USD-denominated green Sukuk on Abu Dhabi Securities Exchange (ADX”), the 2nd largest exchange by market value in the Middle East. ADX is delighted to welcome ADIB’s Green Sukuk to its growing group of green debt instruments.

Listed alongside COP28, the $500 million issuance is expected to contribute to the UAE’s economic diversification and sustainability efforts. It aims to support the UAE’s objectives in driving a green and sustainable economy.

To commemorate the successful listing, senior representatives from Abu Dhabi Islamic Bank Executive Management rang the bell at the market-opening ceremony at ADX in the presence of Abdulla Salem Alnuaimi, Chief Executive Officer of ADX.

Abdulla Salem Alnuaimi, Chief Executive Officer of ADX, said: “We are pleased that ADIB has chosen ADX as their strategic listing platform for the world’s first dollar denominated Green Sukuk. This listing reflects the growing market demand of and need for sustainable investments and green solutions.  As a trusted exchange and investment platform, ADX recognises its role in enabling green finance and supporting investors with financial instruments and services that align with their sustainability objectives.   We will continue to actively contribute towards the economic growth and diversification of the Emirate of Abu Dhabi and the UAE and support the UAE’s sustainability commitment.”

Nasser Al Awadhi, ADIB Group Chief Executive Officer, said: ” As we progress on our sustainability journey, we are extremely proud to list the world’s first Green Sukuk on ADX. The widespread interest from global investors in the sukuk indicates their confidence in our sustainable finance framework, our financial performance and prudent financial and risk management approach. As a prominent bank in the Emirate, ADIB recognizes the importance of Abu Dhabi’s economic landscape. By listing this Sukuk on ADX, we are opening the door for ESG-conscious investors to contribute to the region’s economy in a way that maximizes the public benefit.  The dual listing is a testament to ADXs leadership and excellence in the region’s securities markets.

The issuance was driven by broad demand across three regions, with final allocations of 78% to MENA, 13% to Europe 9% to Asia and USA. By investor type, private banks 26%, Asset and Fund managers 17%, commercial banks 42% and others 16%.

ADIB mandated Standard Chartered Bank as Sole Global Coordinator and Sustainability Structurer along with ADIB, Emirates NBD, First Abu Dhabi Bank and Sharjah Islamic Bank as Joint Lead Managers and Bookrunners.