back Back

Mashreq partners with Galadari Brothers to promote green loan

By Delisha Fernandes

November 17, 2023

  • Central Bank of the UAE
  • email address
  • Fintech news
Share

Mashreq, Nymbl, Instant Payment, merchants, Central Bank of the UAE, QR-based payments, email address, Instant Real Time Payments, SMEs, Fintech news, Fintech UAEMashreq, a financial institution in the MENA region, has partnered with Galadari Brothers Co. LLC, a UAE-based conglomerate, to obtain their inaugural green loan facility, signifying a substantial stride toward environmental sustainability.

The collaboration reflects the strong commitment of both organizations to to reducing energy consumption, thereby addressing the urgent concern of climate change.

Joel Van Dusen, Head of the Mashreq Corporate & Investment Banking Group, said, “We are delighted to partner and support Galadari Brothers on their journey towards a more sustainable future. Mashreq’s green loan will give an opportunity for the Group to take positive steps in reducing emissions and embracing decarbonization. This collaboration reflects our commitment to fostering positive environmental changes. By combining loan terms with sustainability objectives, we are championing a cause that will motivate other companies to incorporate energy efficiency goals into their operations.”

The sustainable finance will be directed to support green retrofits and energy efficiency technologies in Galadari Brother’s flagship hotel property in Sri Lanka. The dedicated “green tranche” is expected to usher in a substantial reduction in emissions and energy consumption, thus paving the way for the decarbonization of the Group’s assets and setting a new standard for eco-conscious business practices.

Mohammed Abdullatif Ibrahim Galadari, Co-Chairman and Group CEO of Galadari Brothers, said, “Our collaboration with Mashreq on this transaction is much more than a conventional financial agreement; together, we are forging a sustainable partnership aimed at creating a more environmentally conscious future. At Galadari Brothers, we recognize the immense significance of contributing to a sustainable environment, a commitment further reinforced by our appointment of an ESG consulting firm to meticulously evaluate the Group’s carbon footprint, benchmark, establish KPIs and drive our initiatives forward.”

Previous Article

November 17, 2023

WorldFirst brings eCommerce digital finance solutions for SMEs in SEA

Read More
Next Article

November 17, 2023

Cellulant expands MENA operations with new Egypt payment licenses

Read More









IBSi Daily News Analysis

AI, scams, Deepfakes

November 29, 2023

Central Bank of the UAE

APAC Deepfake incidents surge as global fraud landscape evolves

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Ezra & Kacha team to launch digital lending service in Ethiopia

Read More

November 28, 2023

Genio Diligence joins Mia-Platform Partner Network

Read More

November 28, 2023

TPIsoftware and HES FinTech to expand footprint in APAC and Europe

Read More

Related Reports

Sales League Table Report 2023

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q2 2023

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2023

£1,500.00 / year

Know More
Next-Gen Debt Collection Systems Growing Importance of Collections Q4 2023

£500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2023

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023