The goal of this partnership with KPMG is to create a roadmap, a long-term sustainability vision, and Ajman Bank's first ESG framework. The UAE's announcement that 2023 would be a year of sustainability highlights the country's ongoing efforts to promote sustainable practices in all spheres of society.

Additionally supporting this national vision, Ajman Bank has demonstrated its commitment to addressing climate change and other sustainability-related challenges.

Leaders from both Ajman Bank and KPMG ESG Services were present at a ceremony held at the bank's head office to sign a memorandum of understanding. The Memorandum of Understanding was exchanged by Zohaib Ali Zahid, head of ESG at Ajman Bank, and partner Fadi Alshihabi, leader of KPMG's ESG services.


"Responsible banking goes beyond financial transactions; it is about creating a sustainable legacy for future generations," said Mustafa Al Khalfawi, group CEO of Ajman Bank.

In order to demonstrate our dedication as a preeminent Islamic financial institution to moral, environmental, and social governance, we at Ajman Bank strive to integrate sustainability into all aspect of our business operations. Our collaboration with KPMG ESG Services contributes to the sustainability goals of the UAE and is a turning point in our development as a responsible and sustainable banking industry.

Dedicated to sustainable banking

Ajman Bank will conduct a thorough assessment to determine its baseline carbon footprint, identify strategic sustainability priorities, set attainable milestones, and establish pathways towards a sustainable future for the bank, its clients, and the communities it serves, all under the direction of KPMG's ESG expertise.

This program is in line with Ajman Bank's values as an Islamic financial organization, which place a strong emphasis on moral behavior and social and environmental responsibility. It also demonstrates the bank's dedication to sustainability.
 

Speaking on behalf of Ajman Bank, Zohaib Ali Zahid emphasized the bank's increased obligation to sustainable and ethical banking practices, particularly in light of its status as an Islamic bank: "Ajman Bank is embarking on a transformative journey with our cooperation with KPMG ESG Services.

"We are dedicated to setting a positive example for the banking industry by incorporating sustainability into our operations, strategy, and culture. Our goal to realize our long-term ESG strategy, benefit our stakeholders, and make a positive impact on the communities we serve is anchored by this project.