Abu Dhabi, United Arab Emirates: Abu Dhabi Islamic Bank, the leading Islamic bank, rated by Moody’s at A2 and Fitch at A+ with a stable outlook, announced the appointment of Standard Chartered Bank as the sole sustainability coordinator and advisor alongside Abu Dhabi Islamic Bank and the Bank of Dubai. Emirates NBD, First Abu Dhabi Bank and Sharjah Islamic Bank are joint lead managers and have been assigned to arrange contact with global investors on Monday, November 6, 2023, followed by a series of individual meetings with investors in fixed income instruments and meetings in London on Tuesday, November 7, 2023. It is likely that This will be followed by the issuance of green sukuks denominated in dollars, according to market conditions.
This issuance comes within the Sustainable Finance Framework issued by Abu Dhabi Islamic Bank last Friday, November 3, and comes as confirmation of Abu Dhabi Islamic Bank’s commitment to including environmental, social and corporate governance risk assessments in the bank’s operations. Abu Dhabi Islamic Bank recently issued Tier 1 capital sukuks worth US$750 million on the London Stock Exchange in July 2023, and the subscription demand exceeded the target value by more than nine times.
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About Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank is one of the leading banks in the United Arab Emirates with assets exceeding AED 184 billion. The bank is unique in its distinguished banking services via the Internet, smart devices and mobile phones, allowing customers easy access to their bank accounts around the clock. Abu Dhabi Islamic Bank provides a wide range of banking products and services for individuals, companies and businesses, in addition to private banking and wealth management services. Abu Dhabi Islamic Bank was established in 1997, and its shares are traded on the Abu Dhabi Securities Market under the symbol (ADIB).
Abu Dhabi Islamic Bank has a strong presence in six strategic markets, including: Egypt, where it has 70 branches, in addition to the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Qatar and Iraq.
The bank won the “Best Islamic Retail Bank” award from “The Banker” international magazine, in addition to the “Best Bank in the United Arab Emirates” award from “Global Finance Awards.” Abu Dhabi Islamic Bank has a long track record of excellence in this regard, and this is evident in its various products, including the award-winning Ghina savings account, and covered cards in partnership with Emirates, Etihad Airways and Etisalat, in addition to a wide range of financing products.
2023-11-06 10:26:10
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