Masraf Al Rayan has launched Qatar’s first Shariah-compliant green deposit as part of furthering sustainable investment options in the country.
The green deposit is a unique alternative investment solution that allows riyal deposits and other major currencies to be deployed for funding green initiatives.
Clients seeking to incorporate environmental and sustainability goals in their business ambitions can participate in these deposits that will finance the ESG (environment, social and governance) projects.
"We are proud to bring the first Shariah-compliant green deposit product to customers in Qatar, particularly at a time of raised awareness towards our ethical responsibility to support sustainable investment solutions," said Fahad bin Abdullah al-Khalifa, Group chief executive of Masraf Al Rayan.
The initiative was launched at an official signing ceremony last Thursday, in the presence of al-Khalifa, and Abdulrahman al-Suwaidi, acting group chief executive of Qatar Development Bank (QDB).
"Collectively, we can create a positive impact and enable our clients to manage their funds in a more environmentally responsible way," al-Khalifa said.
The QDB official said this partnership aligns with QDB's strategy in opening new venues for leading projects that contribute to Qatar’s sustainable development efforts.
"We look forward to introducing the Shariah-compliant green deposit as a model for sustainable solutions and an example for active environmental and social responsibility," he added.
As part of its active ESG programme, Masraf Al Rayan supports the introduction of environmentally sustainable finance practices which align with the laws and standards adopted by Qatar as part of its sustainable development agenda.
Clients seeking to incorporate environmental and sustainability goals in their business ambitions can participate in these deposits that will finance the ESG (environment, social and governance) projects.
"We are proud to bring the first Shariah-compliant green deposit product to customers in Qatar, particularly at a time of raised awareness towards our ethical responsibility to support sustainable investment solutions," said Fahad bin Abdullah al-Khalifa, Group chief executive of Masraf Al Rayan.
The initiative was launched at an official signing ceremony last Thursday, in the presence of al-Khalifa, and Abdulrahman al-Suwaidi, acting group chief executive of Qatar Development Bank (QDB).
"Collectively, we can create a positive impact and enable our clients to manage their funds in a more environmentally responsible way," al-Khalifa said.
The QDB official said this partnership aligns with QDB's strategy in opening new venues for leading projects that contribute to Qatar’s sustainable development efforts.
"We look forward to introducing the Shariah-compliant green deposit as a model for sustainable solutions and an example for active environmental and social responsibility," he added.
As part of its active ESG programme, Masraf Al Rayan supports the introduction of environmentally sustainable finance practices which align with the laws and standards adopted by Qatar as part of its sustainable development agenda.
