Ruya, a digital Islamic community bank in UAE, has announced the launch of the ‘NatureProtect’ initiative in partnership with Sacred Groves, a nature-based community interest company.
The two explained that through the collaboration, for every AED 1,000 balance in a Current Account, Ruya will pledge to protect one square foot of primary forest for 10 years.
This will be visualised in the Ruya app, where a customer’s forest conservation balance will appear alongside their bank balance.
“Linking account balances to the act of protecting forests and natural habitats is a unique way to make conservation easy, meaningful, transparent and engaging,” said Vikram Krishna, Co-founder of The Sacred Groves.
Adding: “This first of its kind innovation sets a new standard for organisations across the world to emulate with humanity, business and nature thriving in harmony.”