Tarek Y. Fawzi, Chief Wholesale Banking Officer, QIB and Dr. Yousef Alhorr, Founding Chairman of GORD during the signing ceremony.
Doha: Qatar Islamic Bank (QIB) signed a Memorandum of Understanding (MoU) with the Gulf Organisation for Research and Development (GORD) to promote sustainable projects and help mitigate the impacts of climate change through green products and services.
The MoU was signed by Tarek Y. Fawzi, Chief Wholesale Banking Officer from QIB and Dr. Yousef Alhorr, Founding Chairman of GORD.
Aligned with the objectives of Qatar National Vision 2030 and the National Climate Change Action Plan, this strategic alliance lays the foundation for QIB to further promote green mortgage and sustainable real estate financing, while introducing innovative products and services.
Together, QIB and GORD will leverage their expertise and resources to implement impactful sustainable finance initiatives, with a particular focus on driving progress in green buildings certified by the Global Sustainability Assessment System (GSAS).
This collaboration will drive QIB’s proactive approach towards promoting sustainable practices and environment-friendly initiatives within the real estate sector.
“We are pleased to partner with GORD on this significant initiative,” stated Tarek Y. Fawzi, Chief Wholesale Banking Officer at QIB. “Through joint efforts, we strive to actively contribute to sustainable development and address the challenges posed by climate change. As part of our renewed focus on ESG principles, our future strategy emphasises enhancing sustainability in our financing activities, continuing supporting local communities, and implementing initiatives that reduce our own environmental impact.
This partnership also aligns with our commitment to delivering innovative and responsible banking solutions to our customers.”
Dr. Yousef Alhorr, Founding Chairman of GORD, expressed his enthusiasm for the partnership, stating, “By integrating environmental considerations into financial services, we can create a virtuous cycle where sustainable development and economic prosperity go hand in hand. Green buildings not only reduce carbon emissions and energy consumption but also enhance the overall quality of life for occupants. Together with Qatar Islamic Bank, we will work towards creating a sustainable future by integrating environmental considerations into financial services. Our collective efforts will not only promote Qatar’s sustainable development but also contribute to the global fight against climate change.”
This decision underscores QIB’s dedication to fostering sustainable banking practices and driving sustainable development. QIB has recently made significant progress towards promoting sustainability and environmental responsibility.
