The collaboration is a major step toward realizing the UAE's environmental goals and shows how sustainability, financial know-how, and strategic thinking can work together to create a more environmentally friendly future.

The money raised from the financing facility will be wisely distributed among BEEAH's various endeavors in several industries that will be crucial in the future. Waste management, green transportation, and renewable energy are a few of these. The facility would also provide consistent capital expenditures (CAPEx) for investments in the cutting-edge machinery and technology that BEEAH uses to manage both new and ongoing sustainability-driven projects in the United Arab Emirates and the larger Gulf Cooperation Council.


Additionally, Emirates Islamic will work with BEEAH and assist its education and awareness campaigns to encourage sustainable behaviors among both individuals and organizations.

The deal was signed in front of executives from both organizations, including Farid Al Mulla, CEO of Emirates Islamic, and Khaled Al Huraimel, group CEO and vice chairman of BEEAH Group, at the famous headquarters of the latter organization.

promoting constructive change

"As we continue to grow and spearhead ground-breaking industry firsts with our projects that support a more sustainable future for all, it is more important than ever that we collaborate with partners in other sectors to pave the way forward," said Khaled Al Huraimel, CEO of the group and vice chairman of BEEAH Group, in remarks made on the occasion. BEEAH will continue to promote environmental change by collaborating with Emirates Islamic and looking into advanced finance tools to help fund our programs.

Through this agreement, Emirates Islamic will not only promote BEEAH's environmental innovations but also establish the industry benchmark for alternative finance. The facility has a Liquidity Murabaha structure based on the sale and purchase of tradable certificates, as well as an inventive and well-structured Shariah-compliant term financing system.


Speaking about the collaboration, Emirates Islamic CEO Farid Al Mulla stated: "Emirates Islamic is committed to assisting companies that are advancing the UAE's long-term sustainability agenda in line with our own sustainability goals. With its diverse range of inventive endeavors aimed at paving the way for a more intelligent and sustainable future, BEEAH is redefining sustainability norms. We are happy to join forces with BEEAH Group, a pioneer in the sustainability industry, to sign an ESG-linked financial agreement.

"As one of the leading Islamic banks in the region, we continue to bring our customers alternative financing through our innovative and carefully crafted Shari'ah-compliant financing facilities," stated Mohammad Kamran Wajid, deputy chief executive officer of Emirates Islamic. As we embrace the UAE's Year of Sustainability, our collaboration with BEEAH represents a significant step in supporting the country's efforts to achieve its Net Zero 2050 target and create a more sustainable future.

Reaching net-zero emissions in the UAE

BEEAH's portfolio of forward-thinking, sustainability-led projects, which satisfy both global and UAE sustainability standards, has played a significant role in realizing the UAE's agenda for net-zero emissions and clean energy generation as well as its zero-waste to landfill aspirations.

The agreement will include key performance measures that are in accordance with BEEAH's sustainability strategy and will make a substantial contribution to both the UAE Green Agenda 2015–2030 and the Net Zero by 2050 Strategic Initiative of the United Arab Emirates in order to maintain momentum.