DFSA issues its first ESG fee waiver to Emirates NBD Bank

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, DFSA Chief Executive Ian Johnston announced the decision to waive all regulatory fees for issuers wishing to list sustainability-related debt securities in the Dubai International Financial Centre (DIFC) throughout 2024.

The fee waiver was adopted to support the efforts of market participants who wish to list sustainability-related debt securities in the DIFC, and ultimately to accelerate the growth of sustainable capital markets in the Centre.

The latest issuance to Emirates NBD Bank demonstrates how the DFSA’s innovation is having an impact on the financial landscape, fostering a positive shift towards sustainable practices.

DFSA Chief Executive Ian Johnston expressed enthusiasm at the recent listings. He said, “The DFSA recognises the pivotal role that financial institutions play in promoting sustainability and addressing environmental and social challenges. By participating in the fee waiver, institutions are taking a proactive step towards 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 toward a more sustainable future.

DFSA is seeing more firms submit applications to become beneficiaries of the fee waiver and are processing pending applications. All new and repeat issuers that make a relevant application to the DFSA are eligible.