Emirates NBD has issued a Dh1 billion, three-year fixed-rate digital bond, marking the first dirham-denominated digitally native bond in the Middle East and North Africa and the largest public digital bond in the region.
The bond, structured as Digitally Native Notes (DNNs), is also the first of its kind to be listed on Nasdaq Dubai, providing investors with regulated secondary market access and transparent price discovery.
The issuance was carried out under Emirates NBD’s Euro Medium Term Note programme using Euroclear’s Digital Financial Market Infrastructure platform, which digitises the entire bond lifecycle, including issuance, distribution and settlement.
Emirates NBD said the transaction highlights growing investor confidence in both the bank’s credit strength and the region’s expanding digital capital markets framework.
The bond attracted participation from a broad group of regional and international investors. Emirates NBD Capital, First Abu Dhabi Bank, Mashreq and Standard Chartered acted as joint lead managers, while Citi served as issuing and paying agent.
Executives said the deal demonstrates that digital bonds can be issued at scale while meeting international regulatory and market standards. The listing on Nasdaq Dubai allows the notes to trade within an established exchange environment, supporting liquidity and investor protection.
The issuance comes as debt capital markets across the region continue to grow, driven by strong demand from investors and increased issuance by banks, corporates and sovereign-linked entities. Industry participants say digital bonds could play a growing role in improving efficiency, settlement speed and transparency in regional markets.
