Emirates NBD Bank 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, Ian Johnston, chief executive of the DFSA announced the decision to waive all regulatory fees for issuers wishing to list sustainability-related debt securities on the Dubai International Financial Center (DIFC) throughout 2024.
The fee waiver was adopted to support the efforts of market participants seeking to list sustainability-related debt securities on the DIFC and ultimately accelerate the growth of sustainable capital markets at the Centre.
The last broadcast of NBD Bank of the Emirates demonstrates how DFSA innovation is having an impact on the financial landscape, encouraging positive change towards sustainable practices.
Ian Johnston, chief executive of the DFSA expressed excitement about the recent listings. He said,
“The DFSA recognizes the vital role that financial institutions play in promoting sustainability and addressing environmental and social challenges. By participating in fee waivers, institutions are taking a proactive step toward 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 towards a more sustainable future.
DFSA You are seeing more businesses submit applications to become fee waiver recipients and are processing pending applications. All new and returning issuers who submit a relevant application to the DFSA are eligible.
News source: Emirates News Agency