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04 Dec 2023, 10:02 am

The DFSA waives regulatory fees on ESG listings on Nasdaq Dubai

The Dubai Financial Services Authority (DFSA) announced it will waive all regulatory fees for issuers wishing to list sustainability-related debt securities in the Dubai International Financial Centre (DIFC) throughout 2024. This fee waiver is effective immediately and will apply throughout 2024.

This decision, announced today at COP28 by Ian Johnston, Chief Executive of the DFSA, underscores the DFSA’s long-standing commitment to accelerating the growth of sustainable capital markets in the DIFC since the publication of its first set of Guidelines on best practices for listing green bonds and sukuk in 2018.

Nasdaq Dubai, the DIFC’s exchange, has since emerged as the world’s largest ESG sukuk market with more than 60% of US-denominated ESG sukuk and close to 50% of all-currencies ESG sukuk.

To further mobilise and bolster the sources of financing for sustainable projects in the UAE and the wider region, the fee waiver applies to all ESG-related bonds and sukuk labelled as green, social, sustainable, sustainability-linked, climate, climate adaptation, climate transition, or similar.

Ian Johnston said: “The DFSA is proud to continue to play a crucial role in building a hub for sustainable finance in the UAE. As we approach the conclusion of the ‘Year of Sustainability’, declared by the UAE President His Highness Sheikh Mohammed bin Zayed Al Nahyan, and with the UAE’s Presidency of COP28, the DFSA reaffirms its continued commitment to encouraging companies to transition towards issuing green and sustainability bonds and sukuk for financing environmentally and climatically sustainable projects.”

“We are confident that, alongside our streamlined regulatory process, the fee waiver will catalyse the acceleration of sustainable debt issuances from the DIFC,” he adds.

This fee waiver applies to all new and repeat issuers who make a relevant application to the DFSA. It is effective immediately, covering applications received until 31 December 2024.

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

To find out more about the DFSA’s approach to sustainable finance, please contact the DFSA Markets team at [email protected].

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