Doha, Qatar – Qatar Islamic Bank (QIB), Qatar’s leading Islamic bank, is making significant strides toward a sustainable future. In its pursuit towards embedding sustainability in its daily operations, the bank has provided extensive training on sustainability practices to all its employees and the Board of Directors, creating awareness and positioning them as key contributors in its ongoing sustainable transformation. This proactive commitment underscores QIB's leadership, not only in Islamic and Digital banking but also in fostering sustainability within the financial landscape.
QIB's comprehensive training program encompasses specialized training for the Board of Directors, equipping them to meet governance requirements aligned with global Environmental, Social, and Governance (ESG) best practices. This specialized program further empowers the board members with the knowledge and tools needed to navigate the complexities of ESG-induced risks. It enables them to make informed decisions, assess ESG risks, and align the bank's strategic direction with its sustainability goals.
In addition, all QIB staff have completed an e-learning module focused on Sustainability. This module emphasizes the significance of sustainability at the organisational as well as the national level. It covers aspects of ESG risk management, key ESG indicators, QIB's sustainability strategy, and individual responsibilities in the bank's sustainability journey.
Furthermore, a series of training sessions are being conducted for the Wholesale Banking relationship managers. These sessions focus on the risk assessment of new finance requests and adherence to the newly adopted Equator Principles, using the bank's 'ESG toolkit’ for new finance due diligence. This toolkit ensures that every new finance decision in wholesale banking aligns with sustainability-based objectives and responsible banking practices.
Demonstrating its dedication to transparency and accountability in sustainability, QIB has published its 2022 Sustainability Report based on the Global Reporting Initiative (GRI) standards and Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
Mr. Bassel Gamal, Group CEO of QIB, emphasizes that “Sustainability is now a key pillar of the strategic oversight of our Board. We firmly believe that integrating sustainability into our operations not only fosters an enhanced understanding of the challenges and opportunities that the future may present but could also yield a business advantage. Through comprehensive trainings, our employees gain familiarity with ESG-related KPIs and concepts, recognizing the pivotal role of ESG in the Banking sector, in recent times. This knowledge fuels an appreciation for QIB's efforts to lead in sustainability, inspiring a sense of responsibility towards the environment and our society. Our investment in training every employee is a testament to our commitment towards realizing a sustainable future, aligned to the objectives of the Qatar National Vision 2030, Qatar Central Bank Financial Sector Strategic Plan, and the United Nations Sustainable Development Goals.”
QIB’s increased efforts towards sustainable operations, were recently awarded with the recognition of being the Best Bank for Sustainability (ESG) in Qatar by the Euromoney Awards for Excellence 2023. The Bank also got listed in Forbes Middle East’s inaugural list of sustainability leaders, recognizing the top 100 individuals and organizations driving impactful commitments to sustainable goals in the region.
For more information, please visit www.qib.com.qa.