The Sukuk marks the sixth Green debt issuance on ADX

Listed on the London Stock Exchange in November 2023, the recent issuance highlights the strong local demand for the popular Sukuk

Abu Dhabi, UAE: 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.

About ADIB

ADIB is a leading bank in the UAE with more than AED 184 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides Retail, Corporate, Business, Private Banking and Wealth Management Solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).

ADIB has a strong presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Qatar, and Iraq.

Named the Best Islamic Retail Bank by The Digital Banker, and Best Bank in the UAE by Global Finance Awards, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Emirates airlines, Etihad and Etisalat and a wide range of financing products.

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.     

For more information, please contact:
Abdulrahman Saleh ALKhateeb
Manager of Corporate Communication 
Mobile: +971 (50) 668 9733