Dubai (Union) HSBC Bank launched Green Deposits in the UAE, which provides corporate and institutional customers with a mechanism to place deposits in dollars and dirhams in the UAE, knowing that their money will be used to fund green initiatives and projects. Clients will have access to a quarterly view of how their funds are distributed to support green projects at the portfolio level, and they will be able to manage their green accounts as simple as any regular deposit account.
Philip Robert, Interim Head of HSBC’s Global Liquidity and Cash Management Services in the Middle East, North Africa and Turkey (MENAT) said: “As the UAE continues to pursue implementation of its ambitious program to support increasingly green initiatives and projects, our clients turn to us with a request to provide solutions that enable They have the potential to manage their capital in a more environmentally responsible way. While the road to achieving the basic global goals of climate protection is still long, the launch of green deposits in the UAE reflects the growing interest and awareness of the issue of sustainability, and will help integrate sustainable financing within the field of treasury management services for companies. ”
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