Masraf Al Rayan first Islamic bank in Qatar to launch Sustainable Financing Framework – The Peninsula

Masraf Al Rayan first Islamic bank in Qatar to launch Sustainable Financing Framework – The Peninsula

Doha: Masraf Al Rayan Q.P.S.C. (Al Rayan) yesterday announced the launch of 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 the bank to offer ESG-linked funding opportunities to investors and apply those proceeds to finance ESG-compliant sustainable projects. Credit rating agency, S&P Global Ratings, 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 set up its SSF 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.

As a key player in the regional banking sector, Masraf Al Rayan has committed itself to becoming a sustainability leader that aims to provide innovative sustainable financing solutions to fully support Qatar in its transition story, as outlined in Qatar National Vision 2030.

The bank will have sustainable finance as a cornerstone of its future growth strategy. A dedicated ESG