Home » Ajman Bank signs MoU with KPMG to develop ESG framework

Ajman Bank signs MoU with KPMG to develop ESG framework

by Madaline Dunn

Ajman Bank is partnering with KPMG ESG Services following the signing of a Memorandum of Understanding (MOU), which aims to develop Ajman Bank’s inaugural ESG Framework.

The MoU was signed at a ceremony at Ajman Bank’s head office, attended by leaders from both organisations.

Fadi Alshihabi, Partner and ESG Services Leader at KPMG, and Zohaib Ali Zahid, Head of Environmental, Social & Governance (ESG) at Ajman Bank, exchanged the MOU.

This collaboration will see Ajman Bank undertake a comprehensive assessment to establish its carbon footprint baseline, identify strategic sustainability priorities, set achievable milestones, and create pathways towards greater sustainability for the Bank, its clients, and the communities it serves, it was shared.

Speaking about the development, Mustafa Al Khalfawi, Group CEO of Ajman Bank, said: “Responsible banking goes beyond financial transactions; it is about creating a sustainable legacy for future generations. At Ajman Bank, we are dedicated to embedding sustainability into the heart of our operations, reflecting our commitment as a leading Islamic financial institution to ethical, environmental, and social governance. Our partnership with KPMG ESG Services marks a pivotal moment in our journey towards responsible and sustainable banking while contributing to the UAE’s sustainability objectives.”

Zohaib Ali Zahid, speaking on behalf of Ajman Bank, commented: “Our partnership with KPMG ESG Services marks the beginning of a transformative journey for Ajman Bank. We are committed to leading by example in the banking sector by integrating sustainability into our business strategy, operations, and culture. This initiative is a cornerstone in our mission to achieve our long-term ESG vision, benefiting our stakeholders and contributing positively to the communities we serve.”

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