leading Emirati shopping mall and leisure pioneer Majid Al Futtaim on Wednesday marked the listing of $600 million green sukuk.
Considered the first benchmark corporate green sukuk and the first green sukuk issued by a corporate in the region, the 10-year sukuk is a testament to Majid Al Futtaim’s commitment to supporting the transition to a low carbon economy, the company said in a statement released on Wednesday.
“This issuance will enable Majid Al Futtaim to deliver more sustainable experiences for our customers and to address the implications of climate change,” Majid Al Futtaim’s CEO Alain Bejjani said.
After the recent listing, the value of all Majid Al Futtaim’s debt instruments listed on Nasdaq Dubai reached $2.4 billion.
“The listing further supports Dubai’s growth as the global capital of the Islamic economy, under the initiative launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister,” Governor of Dubai International Financial Centre (DIFC) Essa Kazim commented.