Qatar Islamic Bank, GORD sign MoU to ‘green’ real estate sector

Qatar Islamic Bank, GORD sign MoU to ‘green’ real estate sector

Qatar Islamic Bank (QIB), the Gulf state’s largest private sector bank, announced on Monday that it signed a memorandum of understanding (MoU) with the Gulf Organisation for Research and Development (GORD), a member of Qatari Diar Real Estate Investment Company, to promote sustainable projects and help mitigate the impacts of climate change through green products and services. QIB and GORD will leverage their expertise and resources to implement impactful sustainable finance initiatives, with a particular focus on driving progress in green buildings certified by the Global Sustainability Assessment System (GSAS), the bank said in a press statement. The MoU lays the foundation for the Bank to further promote green mortgage and sustainable real estate financing, while introducing innovative products and services. (Writing by P Deol; Editing by Anoop Menon) ([email protected])