Registration fee waiver for firms listing green bond, sukuk in local market: SCA

Registration fee waiver for firms listing green bond, sukuk in local market: SCA

The board of directors of the UAE’s Securities and Commodities Authority (SCA) has approved a proposal to exempt companies aiming to list their green or sustainability-linked bond or sukuk in the local market from registration fees for 2023, according to a statement released by the authority.

Mohamed Ali Al Shorafa, who chairs the board said the decision was in line with the declaration of President Sheikh Mohamed bin Zayed Al Nahyan, declaring 2023 as the ‘Year of Sustainability‘.

“It supports the SCA efforts to encourage companies to move towards issuing green and sustainability-related bonds and sukuk to finance sustainable projects related to the environment and climate, and encourages investors and companies to adopt environmentally friendly investment opportunities,” he added.

Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President-Designate, said, “The SCA initiative for green and sustainability-linked bonds and sukuk is an excellent initiative that aligns perfectly with the broader COP28 agenda with regards to climate finance. The world as a whole needs to do more to advance sustainability in the financial space that in parallel also helps to contribute to sustainable long term economic growth.”

Exempting companies wishing to list their green or sustainability-linked bonds or sukuk in