Qatar Islamic Bank (QIB) has signed a Memorandum of Understanding (MoU) with the Gulf Organization for Research and Development (GORD) in order to promote sustainable projects and help mitigate the impacts of climate change through green products and services.
The partnership between GORD and Qatar’s largest private sector bank is poised to greatly advance the development of green infrastructure in the country.
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).
Mr. Tarek Y. Fawzi, Chief Wholesale Banking Officer at QIB, said that, “We are pleased to partner with GORD on this significant initiative. Through joint efforts, we strive to actively contribute to sustainable development and address the challenges posed by climate change.”
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.
This collaboration will drive QIB’s proactive approach toward promoting sustainable practices and environment-friendly initiatives within the real estate sector.
Dr. Yousef Alhorr, founding chairman of GORD stated that, “This partnership also aligns with our commitment to delivering innovative and responsible banking solutions to our customers. 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,” Dr. Alhorr added.
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