Digital markets milestone for Qatar: Doha Bank issues $150 million digital bond with instant settlement

Doha Bank has successfully issued a $150 million Floating Rate Digitally Native Note (DNN) on the London Stock Exchange’s International Securities Market (ISM), achieving T+0 instant settlement through Euroclear’s Digital Financial Market Infrastructure (D-FMI). This positions Qatar as a leader in digital bond infrastructure within the GCC region, supporting the modernization of financial markets and attracting new investors. Sheikh Abdulrahman Bin Fahad Al Thani, Group CEO of Doha Bank, stated that the issuance demonstrates the bank’s commitment to diversifying its funding base and embracing innovation.

The transaction aligns with Qatar Central Bank’s Third Financial Sector Strategy and the government’s vision for digital transformation. Standard Chartered acted as the Sole Global Coordinator and Sole Arranger for the deal, while Euroclear, the London Stock Exchange, and Citi served as the issuing and paying agent. Salman Ansari of Standard Chartered highlighted the efficiencies delivered by cutting-edge digital infrastructure and the growing appetite for such capabilities.

Built on distributed ledger technology (DLT), the DNN offers enhanced transparency and operational efficiency, with the instant settlement cycle laying the groundwork for frictionless capital markets transactions. Dame Julia Hoggett of the London Stock Exchange emphasized the exchange’s role in developing digital markets infrastructure to improve efficiency for issuers and investors.

(Source：Qatar Tribune)