Doha Bank has completed the issuance of a USD150 million digital bond, marking one of Qatar’s earliest digitally native dollar bond offerings. The Floating Rate Digitally Native Notes (DNN) were listed on the London Stock Exchange’s International Securities Market and settled instantly through Euroclear’s Digital Financial Market Infrastructure (D-FMI), which uses distributed ledger technology.
Standard Chartered served as the Sole Global Coordinator and Sole Arranger for the transaction, overseeing its structuring, execution, and distribution. The deal is considered a significant step in advancing digital markets in the region by providing instant settlement and supporting efforts to modernize financial markets in the Gulf Cooperation Council (GCC).
Sheikh Abdulrahman Bin Fahad Al-Thani, Group CEO of Doha Bank, commented: “The successful issuance of Doha Bank’s inaugural DNN marks a significant milestone in our strategy to diversify and strengthen our funding base. By achieving one of the region’s first real-time T+0 settlements and leveraging Euroclear’s D-FMI Infrastructure, we are embracing innovation that enhances efficiency, deepens market access, attracts new investors, and reinforces confidence in Qatar as a forward-looking financial hub. This achievement reflects strong global investor appetite for Qatar and aligns closely with the Qatar Central Bank’s Third Financial Sector Strategy and the Government’s vision to advance digital transformation resilience and competitiveness of the Qatari capital market. We thank Standard Chartered for their exceptional partnership, and we are pleased to collaborate with Euroclear and the London Stock Exchange on this landmark issuance.”
Salman Ansari, Global Head of Capital Markets at Standard Chartered, said: “Doha Bank’s debut digital bond issuance underscores the tangible, real-world efficiencies that cutting-edge digital infrastructure is delivering for capital markets, and the increasing appetite among our clients for this next-gen capability and execution. We are pleased to be the Sole Global Coordinator and Sole Arranger of this landmark digital bond, which reflects the deep relationships that we have with Doha Bank and our market partners.”
The use of distributed ledger technology provides enhanced transparency, decentralized record-keeping, and operational efficiency. The T+0 same-day settlement demonstrates how digital-market infrastructure can reduce settlement cycles. Citi acted as issuing and paying agent.
Sebastien Danloy, Chief Business Officer at Euroclear, stated: “We are honoured to support Doha Bank’s DNN issuance. This transaction demonstrates that same-day execution and settlement are achievable through a neutral, regulated DLT infrastructure that aligns with established market standards – reducing friction and time while maintaining the level of assurance expected by issuers and investors. Equally important, integration with traditional secondary-market services and trading venues ensures that investors retain access to liquidity. As similar transactions progress across global markets, Qatar is helping to set a steady pace for digital issuance within the GCC – providing a clear reference point for market participants in the region.”
Dame Julia Hoggett, CEO of London Stock Exchange plc and Head of Digital & Securities Markets at LSEG added: “We are delighted that Doha Bank has chosen the London Stock Exchange as the listing venue for its digital bond and congratulate them on this milestone transaction. As one of the largest markets for the listing of fixed income globally, we are also proud to play a key role in the development of digital markets infrastructure to make capital markets globally more efficient for issuers and investors alike. We look forward to continuing our collaboration and supporting the growth of digital funding and liquidity through future initiatives as demonstrated by Doha Bank today.”
Doha Bank was established in 1979 as a commercial bank with operations both domestically in Qatar and internationally. The bank has focused on digitizing banking services within Qatar through advanced IT systems.
Euroclear provides post-trade services such as settlement and custody for securities including bonds, equities, derivatives, and investment funds across multiple jurisdictions.
LSEG operates global financial market infrastructure services spanning data analytics; indices; capital formation; trade execution; clearing; risk management; employing over 26,000 people worldwide.