Qatar Islamic Bank (QIB) has announced the launch of a new Sustainable Deposit, which is a Shari’a-compliant Absolute Mudaraba product.
The fixed-term product is catered toward corporates prioritising responsible investment, it was shared.
As such, the deposit focuses on sectors contributing positively to environmental and social causes, including, renewable energy, green buildings, clean transportation, education, healthcare, food security, community development and financial inclusion, among others.
Speaking about the launch of the product, Tarek Y Fawzi, Chief Wholesale Banking Officer at QIB, said: “Through the Islamic Sustainable Deposit, QIB actively promotes sustainable and environmentally friendly businesses, aiming to ensure a sustainable future. This initiative reaffirms our commitment to delivering innovative financial solutions that address the evolving needs of our customers while contributing to a more sustainable and environmentally conscious future.”