Finance World Magazine| Edition: March 2024

Nasdaq Dubai Lists China Construction Bank’s $600M Green Bond
Nasdaq Dubai celebrates the listing
of a $600M green bond by China
Construction Bank (DIFC Branch),
underscoring the bank’s substantial
commitment to sustainable financing.
The green bond issuance, aimed at
addressing climate change, signifies the
growing collaboration in green financing
between China and the UAE. Li Xuhang,
Consul-General of the People’s Republic
of China in Dubai, and Hamed Ali, CEO of
Nasdaq Dubai and Dubai Financial Market,
marked the occasion by ringing the market
opening bell. This listing contributes to
Nasdaq Dubai’s total value of ESG-related
issuances, reaching $27.05B, positioning
the exchange as a leading global hub for
fixed-income listings and sustainable
financial instruments. The total value of
outstanding debt from Chinese issuers
listed on Nasdaq Dubai now stands at
$11.95B through 22 issuances, highlighting
the market’s growing prominence.
Gulf Bank, Kuwait Unveils
‘A Step Towards Change’
Sustainability Initiative
Gulf Bank has introduced the
“A Step Towards Change”
environmental sustainability
initiative, aiming to transform societal
behaviour by promoting the use of
reusable bags. In collaboration with
the Environment Public Authority and
five cooperative societies in the initial
phase—Al-Dahiya, Al-Mansouriah,
Al-Shamiya and Shuwaikh, Al-Rawda
and Hawally, Kaifan, and Mishref—the
initiative seeks to reduce plastic usage.
Jassim Mustafa Boodai, Chairman of
the Board at Gulf Bank, and various
bank executives attended the launch
event, along with Dr. Hamad Al-
Mutair, Chairman of the Committee
for Environmental, Food, and Water
Security Affairs in the National
Assembly, and Engineer Abdullah
Al-Otaibi, representing the General
Authority for the Environment. This
initiative aligns with Sustainable
Development Goal 17, promoting
collaboration across public and private
sectors for the benefit of Kuwait’s
environment.
UAE Completes $13.6M Cross-Border Digital
Dirham Payment to China
The UAE achieved a historic
milestone with the completion
of its inaugural cross-border
payment using the Digital Dirham,
transferring AED 50M ($13.6M) to
China. Sheikh Mansour bin Zayed Al
Nahyan, Vice President, Deputy Prime
Minister, Chairman of the Presidential
Court, and Chairman of the Board of
the Central Bank of the UAE (CBUAE),
conducted this transaction during
a celebration marking the CBUAE’s
The Anwar Gargash Diplomatic
Academy (AGDA) in Abu Dhabi,
a globally renowned centre of
diplomatic excellence, has formalised
a collaborative effort with the Central
Bank of the UAE through the signing
of a Memorandum of Understanding
(MoU). This agreement aims to
strengthen cooperation in research,
knowledge exchange, expertise sharing,
and joint training programs to
enhance diplomatic capabilities. The
MoU was signed by Dr. Mohammed
Ibrahim Al Dhaheri, AGDA’s Deputy
Director-General, and Ehab Anis Al
Ameri, Head of Human Resources
Department at the Central Bank of
the UAE, in the presence of senior
officials from both institutions. AGDA,
50th Anniversary. The payment was
made directly with China through the
“mBridge,” a platform utilising central
bank digital currencies (CBDC) for
international fund transfers between
participating banks, based on distributed
ledger technology (DLT or “blockchain”).
This achievement underscores
the UAE’s commitment to advancing
digital currency solutions and international
financial collaboration.
Anwar Gargash Diplomatic Academy Inks MoU
with UAE Central Bank
as a respected diplomatic hub, delivers
accredited academic programs
and executive training, fostering an
intellectual community in diplomacy,
academia, and research to contribute
to the UAE’s foreign policy objectives.
March 2024 www.thefinanceworld.com 15