United Arab Bank launches products for sustainable green financing | Al Khaleej newspaper

Sharjah: “The Gulf”

As part of its strategy to support the UAE government’s climate change initiatives, United Arab Bank launched sustainable green financing products, in conjunction with the United Nations Climate Change Conference (COP28) in Dubai.

This initiative, which was launched within the framework of retail banking, is designed to serve customers wishing to obtain home or car financing products to purchase residential properties or sustainable vehicles, including electric and hybrid models. The bank will offer special rates and discounts on fees to help its clients, who contribute to achieving a greener future. In addition, the bank will commit to observing and implementing every green sustainable financing agreement, by planting a tree or a coastal bush, which embodies its commitment to caring for the environment.

Shrish Bidih, CEO of the bank, said: “The UAE government has adopted several strategic policies to achieve the goal of net zero emissions by 2050, and we fully support environmentally friendly initiatives and offer green financing product options to our customers.”

He added: “As a commitment to our social responsibility, we take into account the issue of sustainability in our products, in order to address environmental, social and governance (ESG) concerns, and our ultimate commitment is to make responsible business practices an integral part of all our operations.”

Emre Yalkin, Head of Retail Banking at the bank, said: “We realize that an increasing number of our customers in the UAE are becoming environmentally aware and concerned about climate change. Through the sustainable green financing products we launch, we are pleased to provide support to our clients who take environmental protection into consideration in their choices. The bank will provide special benefits for loans and mortgages related to environmentally friendly real estate and residential vehicles, such as electric or hybrid cars.”

He concluded: “Trees are components of nature that help us combat climate change. We will celebrate every real estate financing.”

The primary goal of the Bank’s Green Initiative is to create awareness among people about climate change by emphasizing the benefits of choosing electric or hybrid cars and green residential properties. Its green sustainable products will make it easier for borrowers to invest in environmentally friendly transportation and housing options.