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Qatar: QFC announces Sustainable Sukuk and Bonds Framework
The Qatar Financial Centre ('QFC') announced on, 16 March 2022, that it had developed a Sustainable Sukuk and Bonds Framework aimed at promoting appropriate disclosures, reporting, the flow of information, transparency, and minimising risks of greenwashing. In particular, the QFC stated that the framework is the first of its kind in the GCC region and is based on the latest International Capital Markets Association's ('ICMA') Green Bond Principles, Social Bond Principles, and Sustainable Bond Guidelines. In this regard, the CEO of the QFC, Yousuf Mohamed Al-Jaida, noted that the framework offers best-in-class practices and a step in the right direction towards the fulfilment of Qatar's National Vision 2030 of developing financial markets and fostering financial innovation.
Furthermore, in connection with the announcement, the CEO of HSBC Qatar noted, among other things, that the launch of the framework showcases QFC's commitment to Environmental, Social, and Governance ('ESG'), while emphasising the growing significance of Islamic finance in sustainable development.
You can read the press release here.
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