Dukhan Bank & GORD to boost sustainable financing initiatives

By Shilpa Annie Joseph, Official Reporter
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GORD-Dukhan Bank Partnership
Officials during the meeting.

The Gulf Organization for Research and Development (GORD), and Dukhan Bank, a prominent Shari’ah-compliant banking service provider, have entered into a significant partnership to bolster sustainable finance practices, environmental and societal development.

GORD is a leading organization dedicated to promoting sustainability and climate change. This partnership is in line with Qatar National Vision 2030 and the United Nations Sustainable Development Goals (SDGs) and marks a milestone in the organizations’ commitment to realizing a sustainable and eco-friendly future.

Dr. Yousef al-Horr
Dr. Yousef Alhorr
Founding Chairman

“Our collaboration with Dukhan Bank serves as a model for how financial institutions can proactively channel their resources into sustainable, eco-friendly ventures. It will encompass various strategic elements, including the development of comprehensive frameworks tailored to sustainable finance. Simultaneously, it will focus on building the capacity of Dukhan’s employees, equipping them with the expertise needed to successfully implement these frameworks. Additionally, we are committed to raising awareness across the wider community, encouraging clients and investors to take full advantage of the sustainable finance offerings Dukhan Bank is putting in place.”

The recent partnership between GORD and Dukhan builds upon the Memorandum of Understanding (MoU) inked between GORD and Dukhan Bank last year at the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27).

Further, it aligns with Dukhan Bank’s ESG strategy, to guarantee sustainable management of its banking operations, and enhance its capacity to lead banking institutions supporting transformation into a sustainable community.

Mr. Talal Ahmed Al-Khaja, Chief Marketing and Communications Officer at Dukhan Bank, stated that, “We’re delighted to partner with the Gulf Organization for Research and Development in establishing a foundation for a sustainable financial system.”

This partnership entails combining the efforts of both parties to enhance the comprehension of sustainable financing projects among the bank’s staff. It involves furnishing them with the essential mechanisms and methodologies to appraise and bolster green projects.

Further, it aims to facilitate the transfer of knowledge to ensure the bank’s team is equipped to actively contribute to implementing sustainable financing initiatives and play a pivotal role in supporting Qatar’s Sustainable Development Goals.

From his part, Sheikh Mohammed bin Abdulaziz Al Thani, AGM – Head of Government & Environmental Social Governance (ESG) at Dukhan Bank, commented that “the Sustainable Finance Framework, a pivotal initiative within this partnership, will be formulated by the Gulf Organization for Research and Development to assist Dukhan Bank in meeting its green finance requisites. This framework outlines clear and practical criteria to appraise projects seeking financing, ensuring their compliance with set conditions, assessing their environmental and societal impact, and establishing key performance indicators (KPIs) to measure the effectiveness of funded projects in reducing their carbon footprint through the implementation of sustainable practices.”

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