HSBC UAE (“HSBC”) welcomes that memorandum of understanding (“MoU”) signed yesterday by the International Renewable Energy Agency (“IRENA”) and the Association of Southeast Asian Nations (“ASEAN”), which will see the two organisations work together to strengthen the enabling environment for renewable energy investment and deployment.
Abdulfattah Sharaf, Group General Manager, Chief Executive Officer for HSBC UAE and Head of International, HSBC Bank Middle East Limited, said, “HSBC welcomes the increased collaboration between IRENA and ASEAN. We stand ready to offer our financial expertise and support to harness a brighter and more sustainable future for businesses and communities around the world.”
IRENA is headquartered in the UAE, one of HSBC Group’s biggest markets, and plays a key role in helping countries transition to a sustainable energy future. HSBC has a strong presence in ASEAN’s biggest economies, with operations in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
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HSBC in the MENAT region
HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in 9 countries across the region. HSBC has operations in the United Arab Emirates, Egypt, Turkey, Qatar, Oman, Bahrain, Kuwait and Algeria. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom.
This presence, the widest reach of any international bank in the region, comprises some 350 offices and around 10,500 employees. In the year ending 31st December 2017, HSBC in the MENAT region made a profit before tax of US$ 1.5bn.
Media enquiries to:
Gillian Fleming
+971 44236536
gillian.fleming@hsbc.com
For more information about the IRENA – ASEAN MoU
http://www.irena.org/newsroom/pressreleases/2018/Oct/IRENA-Signs-Partnership-with-Southeast-Asian-Countries-as-Region-Looks-to-Scale-Up-Renewable-Energy
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