Doha, Qatar – September 11, 2024 – The Union of Arab Banks (UAB), represented by Secretary General Wissam Fattouh, and Capital Concept (KC), represented by CEO Yasser Akkaoui, are pleased to announce an exclusive partnership aimed at advancing Environmental, Social, and Governance (ESG) initiatives across the Arab banking and financial sectors. This collaboration underscores a shared commitment to fostering sustainable finance and integrating ESG principles into the core strategies of Arab financial institutions.
A Milestone for Sustainable Finance in the Arab World
This strategic partnership comes at a pivotal moment as Arab nations increasingly recognize the importance of ESG integration to drive sustainable economic growth and enhance financial stability. The collaboration will focus on developing ESG laws and regulations, adopting innovative advisory solutions, delivering capacity-building programs, and conducting in-depth research to support Arab banks and financial institutions.
Driving Regional and Global Impact
The partnership between UAB and KC aims to accelerate ESG and sustainable finance integration, providing critical support to regulators, banks, and their corporate clients. By leveraging their combined expertise, UAB and KC will work closely with international agencies to draft, develop, and enhance ESG-related banking and financial legislation, policies, and systems. This initiative will contribute to the creation of a robust regional enabling environment for sustainable finance, promoting investments that align with global sustainability standards.
Empowering Financial Institutions
Training and professional development are central to this collaboration. UAB and KC will deliver ESG and sustainable finance training programs designed to equip board members, management, and professionals with the skills necessary to incorporate sustainability considerations into their strategic decisions. This initiative aims to build a cadre of highly qualified individuals capable of driving ESG integration within their organizations.
Supporting Sustainable Investments
The partnership will also focus on adopting innovative solutions to support sustainable finance efforts across the Arab world. By providing advisory services and assistance programs, UAB and KC aim to enhance the attractiveness of investments and trade in the region, fostering a transition towards circular economic principles and a sustainable future.
Thought Leadership and Research
UAB and KC will jointly develop research and publish reports on sustainable investment opportunities in Arab nations. These efforts will raise awareness and increase knowledge throughout the banking and financial sectors, promoting the growth of sustainable banking practices and Islamic banking services.
A Vision for the Future
“The collaboration with Capital Concept is a significant step forward in our mission to integrate ESG principles across the Arab banking sector,” said Wissam Fattouh. “This partnership will enable us to leverage our collective expertise to drive sustainable finance initiatives, ultimately contributing to the economic and social development of the region.”
Yasser Akkaoui added, “We are honored to partner with the Union of Arab Banks. Together, we will work to create a sustainable financial ecosystem that not only meets the needs of today but also ensures a prosperous future for generations to come.”