Qatar: Masraf Al Rayan Green Deposit attracts investment from Gord

Qatar: Masraf Al Rayan Green Deposit attracts investment from Gord

Qatar - Masraf Al Rayan has signed an agreement with the Gulf Organisation for Research and Development (Gord), whereby the latter will invest in Masraf Al Rayan's Shariah-compliant ‘Green Deposit’, the first alternative investment product for Qatari riyal deposits and major currencies in Qatar, which is dedicated to financing green initiatives.

The agreement was signed in the presence of Fahad bin Abdullah al- Khalifa, GCEO, Masraf Al Rayan, and Dr Yousef al-Horr, Gord’s Founding chairman.

Through the bank’s Green Deposit programme, customers who wish to include environmental and sustainable objectives in their business operations can now invest in deposits, which are designated to fund environmental sustainability projects.

Al-Khalifa said: “We are proud to bring the first Shariah-compliant Green Deposit product to customers in Qatar, particularly at a time of raised awareness towards our ethical responsibility to support sustainable investment solutions. Collectively, we can create a positive impact and enable our clients to manage their funds in a more environmentally responsible way.”

Al-Horr praised the Green Deposit project, saying: “As an organisation driving environmental sustainability, we are proud to join Masraf Al Rayan Bank’s Green Deposit programme, which we believe will play a crucial role in channelling financial resources towards projects that are essential to