Emirates NBD wins first UAE green bond fee waiver

Emirates NBD wins first UAE green bond fee waiver

Emirates NBD has become the first financial institution to benefit from a fee waiver intended to boost sustainability-related debt security issuances in the UAE. The Dubai Financial Services Authority, which announced the green bond fee waiver during the Cop28 summit last year, said more financial institutions were submitting applications to benefit from the scheme. However, […]

More applications in pipeline

But scheme ‘won’t have big impact’

‘Other steps needed’

Emirates NBD has become the first financial institution to benefit from a fee waiver intended to boost sustainability-related debt security issuances in the UAE.

The Dubai Financial Services Authority, which announced the green bond fee waiver during the Cop28 summit last year, said more financial institutions were submitting applications to benefit from the scheme.

However, Bashar Al-Natoor, global head of Islamic finance at Fitch, said the scheme was unlikely to have a big impact on the growth of the region’s green debt capital market.

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“The DFSA fee waiver is another step in supporting the ESG [environmental, social and governance] debt capital market development. But the fee waiver alone is not a game changer, as other