UAE Bank Launches Products for Sustainable Green Financing

Sharjah: “The Gulf”

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

Launched within the framework of retail banking, the initiative is designed to serve customers seeking home or car financing products to purchase residential properties or stationary vehicles, including electric and hybrid models. The bank offers special rates and discounts to help customers contribute to a greener future.Also, the bank pledges to implement and implement each green sustainable financing deal by planting a tree or a coastal grove. It includes its commitment to caring for the environment.

Shrish Bidih, CEO of the bank, said: “The UAE government has adopted a number of strategic policies to achieve the goal of net zero emissions by 2050 and we fully support environment-friendly initiatives and offer green financial 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 to address environmental, social and governance (ESG) concerns, and our ultimate commitment is to make responsible business practices an integral part of all our activities.”

The bank’s head of retail banking, Emre Yalkin, said: “We realize that our customers in the UAE are increasingly aware and concerned about climate change. We are happy to support our customers with the environment protection in mind through the sustainable green financing products we are launching. The bank will offer special incentives for loans and mortgages related to eco-friendly real estate and residential vehicles such as electric or hybrid cars.

He concluded: “Trees are elements of nature that help fight climate change. We will celebrate every real estate fundraiser.

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