Dubai, UAE /PRNewswire/ — Standard Chartered today announced the launch of the Islamic Sustainable Account (SA) in the UAE. This new product, offered to large corporations, offers customers the ability to integrate sustainability into their cash management while maintaining day-to-day access to their cash for critical cash management needs.
Deposits in Sharia-compliant Islamic Sustainable Accounts will be used to fund sustainable projects based on Standard Chartered’s green and sustainable products framework, which is aligned with the United Nations Sustainable Development Goals.
Rola Abu Manneh, Chief Executive Officer of Standard Chartered UAE, said, “With an increased focus on sustainability across the UAE, businesses are looking for different ways to participate in sustainable development. Standard Chartered’s Islamic Sustainable Account offers clients the opportunity to have their cash balances benchmarked against sustainable finance and Bank-funded projects, such as solar projects, microfinance, construction of water, etc.”
She added: “NAFFCO, which is committed to reducing its CO2 emissions by implementing management programs that reduce the consumption of natural resources, is the first organization in the United Arab Emirates to proactively use the account. sustainable development to support their opportunities for sustainable and inclusive growth”.
Standard Chartered’s Green and Sustainable Products Framework was co-authored with industry experts Sustainalytics.
View the independently verified Sustainable Finance Impact Report: https://www.sc.com/en/sustainability/our-impact/
-Ends-
About Standard Chartered
We are a leading international banking group, present in 59 of the world’s most dynamic markets and serving clients in 85 others. Our goal is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, Here For Good.
Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.
For more stories and expert opinions, please visit Insights on sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.