People walk outside the main branch of Standard Chartered in Hong Kong, China August 1, 2017. REUTERS/Bobby Yip
DUBAI, Nov 15 (Reuters) – Standard Chartered Bank (STAN.L) said on Monday it has executed a $250 million repurchase agreement transaction (Repo) based on ESG principles with the Saudi National Bank.
The transaction is the first in the Middle East, North Africa and Pakistan region, and among the first globally, where repo financing proceeds are allocated towards ESG assets, it said in a statement.
The Saudi National Bank, the kingdom’s largest bank, will allocate the proceeds of the financing to several large renewable energy projects and green initiatives in Saudi Arabia and the wider Gulf region.
The deal follows Saudi Arabia’s recent pledge to cut its carbon emissions to net zero by 2060.
In September, a senior Standard Chartered executive told Reuters the bank is looking to add bankers to focus on sustainable finance, project finance and capital markets in Saudi Arabia, a market it sees will become a front-runner for its regional business in coming years. read more
Separately First Abu Dhabi Bank (FAB.AD), UAE’s largest bank, said it has executed a green repurchasing transaction with Deutsche Bank.
Under this agreement, FAB receives Emerging Market Eurobonds collateral from Deutsche Bank and provides U.S. dollar financing in exchange. Deutsche Bank will deploy the funds into green financing activity.Reporting by Saeed Azhar; Editing by Kirsten Donovan and Angus MacSwan
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This article was originally published by Reuters.
Ghada Ashour, who grew up in Gaza, becomes fifth scholar selected for FIA’s flagship scholarship initiative Dubai, UAE, 8th December, 2025: The FIA’s United Against Online Abuse (UAOA) Campaign has welcomed Ghada Ashour, a 24-year-old student from Palestine, to its flagship scholarship programme, created to empower the next generation of researchers in the fight against online abuse in sport. Ghada grew up in Gaza where she has been studying remotely until gaining her place on the UAOA scholarship, which brought her to Dublin City University (DCU), Ireland. Becoming the fifth scholar to join the scholarship, she was selected based on her interests in social media, and her strong passion for advancing insights in this area for the benefit of everyone participating in sport. Launched in 2023, the programme offers talented students and young professionals from diverse backgrounds the opportunity to engage in cutting-edge research on the impact, prevalence, and prevention of online abuse in sport with a focus on developing practical solutions. Funded by the FIA Foundation, the UAOA scholars have been selected to undertake invaluable research at DCU based on their project proposals, dedication to achieving positive social change, and their unique perspectives approaching this issue. Ghada’s thesis, which will be printed in English and translated into Arabic, will focus specifically on the …
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