Qatar Islamic Bank releases its 1st sustainability report 

By Arya M Nair, Official Reporter
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Qatar Islamic Bank (QIB) has released its first sustainability report in line with Qatar National Vision 2030 and the recently launched National Strategy for the Environment and Climate Change.

The report underlines QIB’s efforts to help attain sustainable development goals (SDGs) and its achievements in implementing Environmental, Social, and Governance (ESG) standards.

The latest report gives a high-level overview of QIB’s sustainability framework, including the bank’s strategy, objectives, plans, and results, as well as its position on the most critical matters for its major stakeholders.

The sustainability framework of QIB consists of five pillars, Sustainable Finance, Responsible Banking, Governance, Ethics & Risk Management, Empowering QIB’s People and Positive Community Impacts which are crucial for supporting the bank’s goal in contributing to the growth of Qatar and the country’s sustainable development in the future.

Bassel Gamal 
Bassel Gamal 
Group CEO – QIB

“I am pleased to present our first Sustainability Report setting out our accomplishments and efforts deployed in 2020 to support all segments of society during these challenging times. While the world is emerging from the pandemic, it is essential to rebuild our societies in ways that will deliver sustainable benefits to our community, as well as the environment and the economy.”

The bank’s Future sustainability strategy, aligned with the objectives of the sustainability criteria is developed by Qatar Stock Exchange and the United Nations Sustainable Development Goals (UN SDGs). With these frameworks as a guide, important elements of the strategy include how to enhance sustainability criteria in financing activities, continue to support local communities, and take initiatives that reduce environmental impact.

QIB has made major contributions to the Qatar National Vision over the last few years by financing initiatives that diversify and decarbonize the Qatari economy, increase food security, and help the private sector and local communities.

Related: QIB named ‘Best Retail Bank in Qatar’ at Retail Banker Trailblazer Awards