Latest news with #Abdelbary
Gulf Today
07-07-2025
- Business
- Gulf Today
ADIB advances sustainable finance agenda with Dhs17.3 billion in sustainable finance mobilised
Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over Dhs17 billion in sustainable finance as of year-end 2024, marking continued progress toward its Dhs60 billion sustainable finance commitment by 2030. This update coincides with the release of ADIB's 2024 Sustainability Report, which details material advancements in climate alignment, ESG governance, and inclusive growth in line with UAE Net Zero 2050 strategy and UAE 2031 vision. This year's report highlights key achievements, including the publication of ADIB's first sector-specific financed emissions targets, making it the first Islamic bank in the region to set such interim 2030 targets. These cover six high-emission sectors, such as real estate, utilities, and home finance, aligned with IEA Net Zero scenarios and the UAE's national decarbonisation strategy. As part of its commitment to international best practices, ADIB also conducted a double materiality assessment in accordance with the European Sustainability Reporting Standards (ESRS) to evaluate both the financial and societal impacts of its activities, a critical step to understand the material impacts, risks and opportunities (IROs) on the economy, environment, and people. ADIB's Double Materiality Assessment was performed within the context of each of the ESRS topical standards, covering environmental, social, and governance issues. ADIB also published its inaugural Green Sukuk allocation and impact report for its US$500 million Green Sukuk issuance. As of December 2024, 90 percent of proceeds have been allocated toward renewable energy, energy efficiency, and sustainable water infrastructure, contributing to over 607,000 tonnes of estimated annual avoided emissions. Operationally, ADIB reported an 87 percent drop in Scope 1 emissions compared to 2022 and a 3.51 per cent reduction in Scope 2. These improvements reflect continued investments in energy efficiency, electrification, and operational optimisation across the Group. Commenting on this, Mohamed Abdelbary, Group Chief Executive Officer at ADIB, said, 'Putting sustainability at the heart of what we do is one of the three key pillars of our 2035 vision. We're proud of the progress we're making, and how we're using our financing to contribute to the transition of our customers and the economy. Our latest sustainability disclosures reflect our steadfast commitment to ethical, inclusive, and climate-aligned banking. From leading the region in green sukuk to setting the benchmark on sectoral decarbonisation, we are taking decisive steps toward a low-carbon future. Abdelbary added, 'Our double materiality assessment reinforces ADIB's commitment to credible, decision-useful disclosure. It ensures we understand not only how sustainability impacts our business but how our business impacts the environment, society and economy. This is central to how we plan, report and act. ADIB continued to strengthen its social impact agenda in, achieving a 44 percent Emiratisation rate, with women comprising 72 per cent of UAE national hires and 39 per cent of the total workforce. WAM
TECHx
07-07-2025
- Business
- TECHx
ADIB Reports AED 17B in Sustainable Finance by 2024
Home » Emerging technologies » Fintech » ADIB Reports AED 17B in Sustainable Finance by 2024 Abu Dhabi Islamic Bank (ADIB) has reported the mobilisation of over AED 17 billion in sustainable finance by the end of 2024. This marks continued progress toward its AED 60 billion sustainable finance goal by 2030. The announcement was made alongside the release of ADIB's 2024 Sustainability Report. The report outlines key developments in climate alignment, ESG governance, and inclusive growth. These efforts align with the UAE Net Zero 2050 strategy and UAE 2031 vision. ADIB revealed that it is the first Islamic bank in the region to set interim 2030 financed emissions targets. These sector-specific targets cover six high-emission sectors, including: Real estate Utilities Home finance The targets are aligned with IEA Net Zero scenarios and the UAE's national decarbonisation strategy. To ensure alignment with international best practices, ADIB conducted a double materiality assessment. This was done in accordance with the European Sustainability Reporting Standards (ESRS). The assessment evaluated both financial and societal impacts of its activities. The bank noted that the double materiality approach helped identify material impacts, risks, and opportunities across economic, environmental, and social domains. ADIB also confirmed the assessment addressed all ESRS topical standards. In addition, ADIB published its first Green Sukuk allocation and impact report. This followed its USD 500 million Green Sukuk issuance. As of December 2024, 90% of proceeds have been allocated to projects in: Renewable energy Energy efficiency Sustainable water infrastructure These projects are estimated to contribute to over 607,000 tonnes of avoided annual emissions. Operationally, ADIB reported significant reductions in its own emissions. Scope 1 emissions dropped by 87% compared to 2022. Scope 2 emissions saw a 3.51% decrease. These improvements stem from investments in electrification, energy efficiency, and operational optimisation. Commenting on the report, Mohamed Abdelbary, Group CEO at ADIB, said the bank is placing sustainability at the core of its 2035 vision. He stated that ADIB is supporting the economic transition through responsible financing. He added that the bank's disclosures highlight its commitment to ethical, inclusive, and climate-aligned banking. He emphasized ADIB's leadership in Green Sukuk and sectoral decarbonisation. Abdelbary also noted that the double materiality assessment supports decision-useful disclosure. It enables ADIB to understand both how sustainability affects its business and how its business affects the wider environment and society. Social impact was another key area of progress. ADIB achieved a 44% Emiratisation rate. Women represented 72% of UAE national hires and 39% of the total workforce. The bank reported an average of 62 training hours per employee. It also partnered with over 140 community organisations to support financial inclusion, education, and social welfare. ADIB continues to receive strong ESG ratings. These include: 'AA' rating from MSCI Score of 74 from LSEG ESG Score of 41 from DJSI These scores reflect the bank's leadership in responsible finance. ADIB was also recognised as the Best Islamic Bank for ESG by Global Finance and MEED.
Khaleej Times
08-04-2025
- Business
- Khaleej Times
Abu Dhabi Islamic Bank becomes first to offer fractional sukuk
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has announced the official launch of its Fractional Sukuk platform 'Smart Sukuk', a new digital investment solution that enables customers to invest in fractionalised sukuk certificates directly through the ADIB Mobile App. With this launch, ADIB becomes the first bank to introduce an innovative investment solution that significantly lowers the traditional entry barriers for Sukuk investments, allowing investors to participate with as little as $1,000 compared to the usual $200,000 minimum, and expanding access to Sharia compliant investment products to retail investors. With a minimum investment of just $1,000, this platform allows retail investors to purchase and trade sukuk at significantly lower entry points, making access to Sharia-compliant fixed-income products more inclusive. With fractional sukuk, retail investors can now diversify their portfolios with high quality sharia compliant fixed-income securities, previously accessible only to institutional investors or high net-worth customers. The offer reflects ADIB's ongoing commitment to financial empowerment and innovation, providing investors with greater flexibility, transparency, and control over their investment journey. This launch comes as part of ADIB's Vision 2035 to accelerate digital transformation and deliver a comprehensive suite of mobile-first solutions that meet the evolving needs of customers. It builds on the success of recent digital initiatives, including integrating advanced technologies into its core offerings to enhance accessibility, security, and convenience across its digital ecosystem. Smart Sukuk offers a fully digital investment experience, including onboarding, investor suitability assessments, trading, and access to curated Sharia-compliant sukuk options. Investors benefit from fractional ownership with no lock-in periods, access to relevant documentation, and income distributions based on the performance of the underlying assets. The platform demonstrates ADIB's drive to make ethical investment more inclusive and seamless for customers. Mohamed Abdelbary, Group Chief Executive Officer of ADIB, said: 'This initiative marks a transformative development in the investment landscape and represents a significant milestone for both ADIB and the UAE. We are proud to be the first bank globally to introduce fractional sukuk investments as low as $1000, thereby reinforcing the UAE's position as a global hub for Islamic finance and financial innovation. By offering these fractional sukuk, we are expanding accessibility to Sharia-compliant fixed-income investments, empowering a wider range of retail investors to participate with a minimum investment of $1,000.' Abdelbary added: 'This initiative aligns with the ADIB 2035 vision which focuses on building the bank of the future through innovation, customer-centric solutions and leveraging cutting-edge digital capabilities. Our goal is to empower more customers, providing them with access to secure, transparent and sharia compliant fixed-income opportunities that previously were out of reach for so many. This is just the beginning, as we continue to drive innovation in Islamic finance and create a more inclusive financial ecosystem for future generations.' Amit Malhotra, Global Head of Retail Banking at ADIB added: 'We've seen a growing appetite among retail customers for transparent and flexible investment solutions. With the launch of the Fractional Sukuk platform, we're responding to this demand, making it easier for retail investors to access opportunities that were once limited to institutional and high-net-worth investors. This is a major step in expanding access to Sharia-compliant investment products, reflecting ADIB's commitment to delivering practical, customer-first innovations and products.'
Zawya
08-04-2025
- Business
- Zawya
Abu Dhabi Islamic Bank becomes first bank to offer fractional sukuk
First fractionalised sukuk trading platform brings accessible, sharia-compliant fixed-income solutions to retail investors Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has announced the official launch of its Fractional Sukuk platform 'Smart Sukuk', a new digital investment solution that enables customers to invest in fractionalised sukuk certificates directly through the ADIB Mobile App. With this launch, ADIB becomes the first bank to introduce an innovative investment solution that significantly lowers the traditional entry barriers for Sukuk investments, allowing investors to participate with as little as USD 1,000 compared to the usual USD 200,000 minimum, and expanding access to Sharia compliant investment products to retail investors. With a minimum investment of just USD 1,000, this platform allows retail investors to purchase and trade sukuk at significantly lower entry points, making access to Sharia-compliant fixed-income products more inclusive. With fractional sukuk, retail investors can now diversify their portfolios with high quality sharia compliant fixed-income securities, previously accessible only to institutional investors or high net-worth customers. The offer reflects ADIB's ongoing commitment to financial empowerment and innovation, providing investors with greater flexibility, transparency, and control over their investment journey. This launch comes as part of ADIB's Vision 2035 to accelerate digital transformation and deliver a comprehensive suite of mobile-first solutions that meet the evolving needs of customers. It builds on the success of recent digital initiatives, including integrating advanced technologies into its core offerings to enhance accessibility, security, and convenience across its digital ecosystem. Smart Sukuk offers a fully digital investment experience, including onboarding, investor suitability assessments, trading, and access to curated Sharia-compliant sukuk options. Investors benefit from fractional ownership with no lock-in periods, access to relevant documentation, and income distributions based on the performance of the underlying assets. The platform demonstrates ADIB's drive to make ethical investment more inclusive and seamless for customers. Commenting on the launch, Mohamed Abdelbary, Group Chief Executive Officer of ADIB, said: 'This initiative marks a transformative development in the investment landscape and represents a significant milestone for both ADIB and the UAE. We are proud to be the first bank globally to introduce fractional sukuk investments as low as USD 1000, thereby reinforcing the UAE's position as a global hub for Islamic finance and financial innovation. By offering these fractional sukuk, we are expanding accessibility to Sharia-compliant fixed-income investments, empowering a wider range of retail investors to participate with a minimum investment of USD 1,000. Abdelbary added: 'This initiative aligns with the ADIB 2035 vision which focuses on building the bank of the future through innovation, customer-centric solutions and leveraging cutting-edge digital capabilities. Our goal is to empower more customers, providing them with access to secure, transparent and sharia compliant fixed-income opportunities that previously were out of reach for so many. This is just the beginning, as we continue to drive innovation in Islamic finance and create a more inclusive financial ecosystem for future generations.' Amit Malhotra, Global Head of Retail Banking at ADIB added: 'We've seen a growing appetite among retail customers for transparent and flexible investment solutions. With the launch of the Fractional Sukuk platform, we're responding to this demand, making it easier for retail investors to access opportunities that were once limited to institutional and high-net-worth investors. This is a major step in expanding access to Sharia-compliant investment products, reflecting ADIB's commitment to delivering practical, customer-first innovations and products." This groundbreaking initiative is expected to attract a diverse range of investors, from retail customers looking for stable returns to those seeking to diversify their portfolios. It is available on the ADIB Mobile app, offering customers a seamless, secure and fully digital way to invest in fractional sukuk.
