back Back

Standard Chartered launches the UAE’s first Sustainable Account

By Leandra Monteiro

November 12, 2021

  • Green
  • Standard Chartered
  • Sustainable
Share

Standard CharteredStandard Chartered recently announced the launch of the UAE’s first Sustainable Account (SA). This new product, offered to large corporates, provides clients with the opportunity to contribute to sustainable development whilst maintaining daily access to their finances for critical liquidity management needs.

Deposits in Sustainable Accounts are used to fund sustainable projects based on Standard Chartered’s Green and Sustainable Product Framework, which is aligned to the United Nations Sustainable Development Goals. The surplus cash will be used in addressing some of the world’s biggest long-term threats, including climate change and financial exclusion.

Rola Abu Manneh, Chief Executive Officer, Standard Chartered UAE said, “We, at Standard Chartered, strongly believe in utilising finance as a force for good to create a sustainable future. This, along with the UAE’s commitment to Net-Zero by the year 2050, encouraged us to extend our product framework to our clients in the UAE; therefore, enabling them to actively participate in achieving a brighter future for the generations to come.”

She added, “Sustainability sits at the heart of everything we do, and our Sustainable Account offers flexibility, transparency and ease while making a significant contribution to financing progress for a sustainable future. Aldar Properties, which shares our values and sense of purpose, was the first organisation globally to proactively utilise the Sustainable Account to support their sustainable and inclusive growth opportunities.”

Standard Chartered’s Green and Sustainable Product Framework has been co-authored with industry experts Sustainalytics, meaning separate benchmarking or assessments don’t need to be carried out.

The Sustainable Account has also been launched in the United Kingdom with plans to roll out in other markets during 2022.

Previous Article

November 12, 2021

With $25m in funding, Atomic launches an investing API for FinTechs and Banks

Read More
Next Article

November 12, 2021

5 FinTech companies of Europe to watch out for in 2022

Read More






IBSi Daily News Analysis

June 21, 2024

Green

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

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

FinTech Focus: Catch latest developments of the week

Read More

Today

Ageras to acquire French FinTech Shine from Societe Generale

Read More

June 20, 2024

Natwest snaps up Sainsbury’s banking business in £2.5b deal

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
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