QIIB, GORD Sign Mou To Promote Sustainability And Green Finance

Doha: QIIB and the Gulf Organisation for Research & Development (GORD) signed a Memorandum of Understanding (MoU) on Sunday, November 1, 2024, at QIIB Headquarter.

The MoU will result in a strategic engagement between the two organisations to collaborate on various initiatives aimed at promoting sustainability and green finance.

QIIB Chief Executive Officer Dr Abdulbasit Ahmad Al Shaibei, and Dr. Yousef Alhorr, Founding Chairman of GORD, signed the agreement on behalf of their respective organizations. The MoU aims to leverage the strengths of both organisations to drive sustainable development in Qatar and beyond.

GORD, known for its role in influencing regional and global sustainability practices, will bring its expertise in research, green building certification, and climate change advisory along with other related services.

Meanwhile, QIIB, a leading Islamic financial institution that has long upheld its commitment to Sharia-compliant banking solutions, will leverage its financial capabilities to support sustainable investments and green initiatives in the region.

Speaking on the sidelines of the event, Dr Abdulbasit Ahmad Al Shaibei, said,“At QIIB, we are committed to being a catalyst for positive change. By collaborating with GORD, we aim to harness the power of finance to drive sustainable development.

This collaboration will not only enable us to integrate ESG principles into our core business, but will also support projects that have a positive environmental and social impact. We are excited to work together to create a more sustainable future for Qatar.”

He added,“We are very pleased to sign this Memorandum of Understanding, as it will help us further enhance our projects and plans in the field of sustainability.

This reinforces our commitment to achieving leadership in this domain. Earlier, in January, we announced the first framework for sustainable financing at QIIB, aimed at funding projects that provide environmental and social benefits.

Our focus on sustainability aligns with our efforts to implement the objectives of QCB's third Financial Sector Strategy, which places significant emphasis on environmental, social, and corporate governance (ESG) as well as sustainability.”

For his part, Dr. Yousef Alhorr, Founding Chairman of GORD, said,“Financial institutions are the lifeblood of sustainable development. The sector plays a pivotal role in driving meaningful climate action, and it is encouraging to see Qatar's leading banks embracing this responsibility.

Through our MoU with QIIB, we strive to align financial solutions with sustainability goals. We see this collaboration as a powerful step in ensuring that financial resources are channeled effectively towards projects that not only drive economic growth but also contribute to a greener, more sustainable future for Qatar and beyond. At the same time, we are keen to work with QIIB in reducing its climate risks and creating new opportunities for sustainable growth.”

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