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05 Feb 2024, 12:22 pm

The DFSA issues its first ESG fee waiver to Emirates NBD Bank PJSC

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, said “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.

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