Sustainability
Sustainable Finance
AlRayan Bank: Leading the Way with the First Islamic ESG KPI-Linked Repo
AlRayan Bank, in partnership with HSBC, has successfully completed the first-ever Islamic ESG KPI Linked repurchase agreement (repo), marking a significant milestone in sustainable finance to strengthen AlRayan Bank's transition journey. This innovative structure incorporates Sustainable Performance Targets (SPTs) that the bank is committed to achieving over the next three years. Launched in 2022, AlRayan Bank's Sustainable Finance Framework aligns with Qatar's ambitious Net Zero transition, the Qatar National Vision 2030, and the recently unveiled Sustainability Strategy from the Qatar Central Bank. With a steadfast commitment to meeting these Sustainable Performance Targets, AlRayan Bank showcases its proactive approach to ESG strategy, demonstrating tangible progress on its transition journey. This landmark transaction underscores the bank's dedication to collaborating with diverse stakeholders in its mission toward sustainability.
AlRayan Bank: Pioneering Sustainability as the First Islamic Bank to Join PCAF
As the first fully-fledged Islamic bank in the region and the first Islamic bank in Qatar to join the Partnership for Carbon Accounting Financials (PCAF), AlRayan Bank is joining a global network of financial institutions that aim to harmonize greenhouse gas emissions measurement and disclosure for financial activities, specifically addressing scope 3 emissions. This significant achievement not only reinforces the bank's commitment to incorporate climate considerations into its financing strategies but also empowers the bank to set impactful targets that create value for its stakeholders and safeguard the planet. By joining PCAF, the bank reaffirms its dedication to environmental stewardship and aligns itself with the best global practices aimed at effectively combating climate change.
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Green Deposit
As the first bank in Qatar to introduce a green deposit, it offers an innovative alternative investment product for both Qatari Riyal deposits and major currencies, aimed explicitly at funding green initiatives. This green deposit empowers clients to align their business activities with ESG goals and actively participate in financing impactful ESG projects.
