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DUBAI, UAE /PRNewswire/ — Standard Chartered Bank today announced the launch of the Islamic Sustainability Account (SA) in the UAE. This new offering for large corporates offers clients the opportunity to incorporate sustainability into their cash management, while maintaining daily access to cash for critical liquidity management needs.
Deposits in the Shariah-compliant Islamic Sustainable Account 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, Standard Chartered UAE, said: “With the growing focus on sustainability in the UAE, companies are looking at different ways to engage in sustainable development. The Standard Chartered Islamic Sustainability Account provides an opportunity for clients to Their cash balances referenced to sustainable finance and World Bank-financed projects, such as solar projects, microfinance, water infrastructure construction, etc.”
She added: “NAFFCO is committed to reducing CO2 emissions by implementing management plans that reduce the consumption of natural resources and is the first organization in the UAE to actively utilize the Islamic Sustainable Accounts to support its sustainable and inclusive growth opportunities.”
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/
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About Standard Chartered Bank
We are a leading international banking group operating in 59 of the world’s most dynamic markets and serving clients in a further 85 markets. Our purpose is to drive business and prosperity through our unique diversity, our heritage and values reflected in our brand promise, Always Here.
Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.
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