Masraf Al Rayan launches sustainable financing framework

Masraf Al Rayan launches sustainable financing framework

Masraf Al Rayan has launched its sustainable financing framework to further its environment, social and governance (ESG) agenda.

The launch of the framework, the first of its kind at an Islamic bank in Qatar, will enable Masraf Al Rayan to offer ESG-linked funding opportunities to investors and apply those proceeds to finance ESG-compliant sustainable projects.

Global credit rating agency S&P assessed the bank’s framework as “strong” in its ESG criteria, as part of an independent second party opinion.

In a bid to become a key sustainability player in Qatar, Masraf Al Rayan has set up its strategy in alignment with the Qatar Financial Centre’s (QFC) newly-launched sustainable sukuk and bonds framework.

The bank’s sustainability strategy also follows Qatar’s National Environment and Climate Change Strategy, which outlines a policy framework to protect the environment and achieve long-term sustainability goals.

"We are the first Islamic bank in Qatar to have formally launched a sustainable finance framework, assessed by S&P Global Ratings. This step will open new avenues for participation amongst investors and customers to collectively achieve our sustainable investment and financing goals,” said Fahad bin Abdullah al-Khalifa, group chief executive of Masraf Al Rayan.

The bank will have sustainable finance as a cornerstone of its future growth