UAE banks invest in a sustainable future

Since Imperial Bank, the UAE’s inaugural bank, opened its doors in 1946, the banking sector has undergone considerable changes. Fast forward to today and customers have an enormous range of banks to choose from. However, with the changing times, banking needs have also evolved. Therefore, from green Sukuk bonds to preferential lending rates on environmentally friendly vehicles, sustainability is the keyword for the future of banking in the UAE.

“The banking landscape in the UAE has experienced a substantial transformation characterized by a noticeable shift towards sustainability, especially over the last two years,” says Ayesha Abbas, Managing Director and Head of Consumer, Private and Business Banking, at Standard Chartered, UAE. “This evolution is a result of a variety of factors, including a heightened global awareness of climate change, increasing social consciousness, and a growing recognition of the role financial institutions play in shaping a sustainable future.”

Source: Gulf News