UAE: Noor Takaful signs Dubai Declaration on sustainable finance
Source: Middle East Insurance Review | Apr 2017
Noor Takaful, the Shariah-compliant insurance arm of Noor Investment Group, has signed the “Dubai Declaration of Financial Institutions in the United Arab Emirates on Sustainable Finance”, confirming the takaful operator’s commitment towards adopting the best environmental and sustainable practices in its operations.
As a result of the declaration, Noor Takaful will share knowledge, experience and support learning and capacity building with other financial institutions.
It will also ensure that the institution adheres to other ethical and sustainable practices in line with the initiative.
“This agreement reinforces our commitment to supporting the UAE Vision 2021. It also underpins our efforts in aligning with the country’s strategic objectives and helping to achieve economic, environmental and sustainable development. As per the agreement, we aim to play a key role in contributing to the growth of businesses through our advanced takaful solutions, driven by ethical Shariah principles,” said Dr Ahmed Aljanahi, Managing Director of Noor Takaful and Deputy Group CEO, Noor Investment Group.
On her part, Engineer Aisha Al Abdooli, Director of Green Development Department at the Ministry of Climate Change and Environment, said: “The private-sector finance and insurance entities will play an instrumental role in scaling up green projects such as renewable energy, green buildings and sustainable cities in the next few years, and this presents a real opportunity for the financial sector to strongly contribute to achieving the UAE’s ambition for becoming one of the best countries by 2021.”
She added: “The Dubai Declaration was prepared as the first step to engage financial institutions in knowledge transfer and capacity building on sustainable finance. Noor Takaful’s strong backing for the Declaration will contribute profoundly in fulfilling the pledges made in the Declaration.”
The Dubai Declaration was issued to ensure that financial institutions contribute to the UAE government’s sustainable development goals in line with the UAE Green Agenda.