Ajman Bank, a leading Islamic financial institution in the UAE, announces a strategic partnership with KPMG ESG Services, aiming to develop its first Environmental, Social, and Governance (ESG) Framework.
This initiative marks a significant milestone in Ajman Bank’s commitment to sustainability and responsible banking, aligning with the UAE’s 2023 sustainability agenda. The Memorandum of Understanding (MOU) signifies a collaborative effort to establish a roadmap and long-term vision for Ajman Bank’s sustainability efforts, under the guidance of KPMG’s ESG expertise.
The partnership between Ajman Bank and KPMG ESG Services is a testament to the bank’s dedication to ethical, environmental, and social governance. Fadi Alshihabi, Partner and ESG Services Leader at KPMG, and Zohaib Ali Zahid, Head of Environmental, Social & Governance (ESG) at Ajman Bank, formalized the MOU in a ceremony that underscores both organizations’ commitment to sustainability. This collaboration will see Ajman Bank conducting a comprehensive assessment to establish its carbon footprint baseline, identify sustainability priorities, and set milestones towards a sustainable future.
Ajman Bank’s initiative is in line with the UAE’s national agenda, which dedicates 2023 to sustainability. The bank’s efforts to integrate sustainability into its operations reflect its role as a leader in responsible Islamic banking. Group CEO of Ajman Bank, Mr. Mustafa Al Khalfawi, emphasized the importance of responsible banking in creating a sustainable legacy for future generations.
This partnership not only aims to position Ajman Bank at the forefront of sustainable banking but also contributes to the UAE’s broader sustainability objectives. Under KPMG’s guidance, Ajman Bank will embark on a transformative journey towards sustainability, integrating ESG principles into its business strategy, operations, and culture. —BNN Breaking
