QIIB and the Gulf Organization for Research and Development (GORD) signed a memorandum of understanding at the bank’s headquarters aimed at cooperation between the two sides in various initiatives aimed at promoting sustainability and green financing.
Dr. Abdul Baset Ahmed Al Shaibi, CEO of QIIB, and Dr. Youssef Al Hur, founding president of the Gulf Organization for Research and Development, signed a memorandum of understanding that focuses on leveraging the strengths of both sides to participate in advancing sustainable development initiatives in Qatar.
The Gulf Organization for Research and Development, known for its role in influencing regional and global sustainability practices, will provide its expertise in research, green building certification, and climate change consulting, among other related services. In turn, QIIB, the leading Islamic financial institution, will leverage its financial capabilities to support sustainable investments. And green initiatives in the region.
A role model for positive change
Dr. stated: Abdul Basit Ahmed Al Shaibi, on the sidelines of the signing ceremony, said: “We at Qatar International Islamic Bank are committed to being a role model for positive change, and through cooperation with the Gulf Organization for Research and Development, we aim for the power of financing to drive sustainable development, and this cooperation will enable us to integrate the principles of environmental governance.” “It will also support projects that have a positive environmental and social impact, and we are ready to work together to create a more sustainable future for Qatar.”
He added: We are very pleased to sign this memorandum of understanding because it will help us further advance our projects and plans in the field of sustainability, which enhances our quest for further leadership in this field, as we announced at the beginning of last January the first framework for sustainable financing in the Islamic International, which aims To finance projects that contribute to achieving environmental and social benefits and advantages, and our focus on sustainability is part of our keeping pace and interest in implementing the contents of the third strategy for the financial sector approved by the Central Bank, which pays special attention “Environmental, social and institutional governance and sustainability.”
For his part, Dr. Yousef Al-Horr, founding president of the Gulf Organization for Research and Development, said: “Financial institutions are the lifeline of sustainable development, and this sector plays a pivotal role in driving meaningful climate action, and it is encouraging to see the leading banks in Qatar embracing this responsibility.”
He added: “Through the Memorandum of Understanding with QIIB, we strive to align financial solutions with sustainability goals, and we see this cooperation as a strong step in ensuring that financial resources are effectively directed towards projects that not only drive economic growth, but also contribute to a greener and more sustainable future for Qatar.” . At the same time, we are keen to work with QIIB in reducing climate risks and creating new opportunities for sustainable growth.”