(MENAFN- The Peninsula) The Peninsula
Commercial bank is committed to the Qatar National Vision 2030 which aims to transform Qatar into an advanced society capable of achieving sustainable development by 2030 through four interconnected pillars: environmental, economic, social, and human development.
Recently, the bank launched its inaugural Sustainable Finance Framework, which will further its commitment to support projects enable the transition to a low carbon and climate resilient Economy as well as positive societal impact, in line with Qatar National Vision 2030.
Under the Framework, Commercial Bank can issue Green, Social or Sustainability-labelled instruments such as bonds, sukuk and loans. The Framework includes categories related to renewable energy, clean transportation, green buildings, energy efficiency, sustainable water and wastewater management, pollution prevention and control, employment generation, food security and sustainable food systems, access to essential services, and affordable basic infrastructure.
The Framework is aligned with the International Capital Market Association's (ICMA) Green Bond Principles, Social Bond Principles, and Sustainability Bond Guidelines, as well as the Green Loan Principles and Social Loan principles, published by the Loan Market Association, the Asia Pacific Loan Market Association and the Loan Syndications & Trading Association's (LMA, APLMA and LSTA).
It has obtained a Second Party Opinion (“SPO”) from Sustainalytics, a Morningstar Company, which is a leading and independent ESG research, ratings, and analytics firm. Sustainalytics provided the opinion that the Framework is credible and impactful, and affirmed its alignment with the relevant sustainable finance market principles. The SPO also indicated that eligible projects are expected to provide positive environmental and social impacts in Qatar.
The bank intends to use this Framework as a tool to support the 2030 Vision, Qatar's National Environment, and Climate Change Strategies through enabling business growth and supporting our clients in their transition towards to sustainability.
Recently, Commercial Bank was recognised with two prestigious awards at the Mastercard MENA Business Forum, which took place in Dubai, recently. The Bank has won two categories – the Fastest-Growing Partner in Qatar and the Highest Spend per Card in Qatar.
Commercial Bank is the only bank in Qatar to receive this recognition, which not only demonstrates its growing influence in the cards and payments industry in the Middle East but also confirms its position as a leading card issuer in Qatar and the region.
The bank is taking a multifaceted approach to supporting private sector growth in Qatar. It provides a broad range of tailored financial solutions for both local and international investors, with a view to helping businesses thrive and expand. Specialised investment advisory services, competitive lending terms and structured finance solutions all help to make Qatar a more attractive place to invest.
It is committed to empowering SMEs by providing access to capital, financial advice, and specialised banking solutions that cater to their unique needs. Through this targeted support, we hope to support a culture that fosters entrepreneurship and innovation, in line with Qatar's economic diversification goals.
It is also committed to helping its customers reach their digital goals. Its powerful and convenient digital platforms enable businesses and individuals to carry out their financial transactions quickly and efficiently, while its investments in innovative banking solutions give customers a range of choices to suit their individual needs.
From mobile payment solutions to biometric authentication methods, Commercial Bank is always looking for new opportunities to enhance the customer experience.
In December 2023, Commercial Bank, a leader in innovative digital banking in Qatar, collaborated with its valued customer Dyarco to announce the successful implementation of the Host-to-Host (H2H) solution using the Application Programming Interface (API) mode that was designed for faster and automated transaction processing.
While the bank has already extended the H2H solution to various large corporate customers, the maiden H2H implementation, through API mode, will empower the direct communication between Dyarco's ERP system and CB payment platform.
The collaboration offers automated reconciliation through which the H2H system facilitates the automatic update of the Bank's statement record and transaction statuses into Dyarco's ERP, streamlining the reconciliation process. The API solution also enables real-time connectivity and flexibility between Commercial Bank and its customers' systems and empowers the Bank to introduce new features swiftly. With the H2H API in place, Commercial Bank is now well-positioned to connect with other ERPs rapidly and effortlessly, fostering scalability and seamless integration.
Last year, Commercial Bank also launched Visual Telephone Banking to empower the customer's banking journey.
Visual Telephone Banking enables customers to navigate through a user-friendly visual menu, see and fulfil the banking needs when they contact the Bank at 44490000.
Commercial Bank's mission has always been built around enabling the financial industry in Qatar and driving it forward. The new Visual Telephone Banking service is a result of taking customers' feedback into consideration and introducing solutions that will transform their banking experience.
The benefits include:
- It does not require downloading any application as it is web-based
- The visual menu makes navigation simple and quick
- The information is displayed in a user-friendly visual layout
- It has more self-service options that empower and meet the needs.
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