FAB: Becomes the first bank in the Middle East to issue green ‘Repo’ financing
- FAB, the UAE’s largest bank and one of the world’s largest and safest financial institutions
- Executed the first green repurchasing transaction in the Middle East. The transaction was structured with Deutsche Bank
- A repurchase agreement (Repo) is collateralized borrowing undertaken by a bank as part of interbank financing
- Bank receives EM Eurobonds collateral from Deutsche Bank and provides US dollar financing in exchange
- Deutsche Bank will deploy the funds into green financing activity as outlined in its Green Financing Framework
- The bank holds the record for being first in the MENA region to issue a green bond
