Standard Chartered Announces First Green Trade Finance Facility In UAE

 As per the latest reports on Sept 13, 2021, Standard Chartered has announced its first green trade finance facility in UAE with an agenda to encourage Amplus Energy Solutions, a subsidiary of Amplus Solar, in its solar generation business.

Amplus Solar, a member of the PETRONAS Group, is a distributed energy organization that facilitates low-carbon energy solutions to industrial and commercial clients.



This announced sustainable trade finance solution in the UAE by Standard Chartered will enable it to boost: 

1. Sustainable goods by coordinating with clients and partners to provide funds for underlying goods that fulfill sustainability standards.

2. Sustainable suppliers by assisting trade for suppliers who fulfill adequate thresholds against ESG ratings or metrics. For example, gender equality, reliable sourcing criteria, and water use.

3. Sustainable end utilization by concentrating on trade financing in sustainable businesses including renewable energy, energy effectiveness, blue economy, sustainable infrastructure, water management, and clean transportation, and transition businesses by aiding businesses to move and diminish their carbon impressions by facilitating appropriate trade financing. 

According to Rola Abu Manneh, chief executive officer, Standard Chartered UAE, “We are glad to declare the bank’s first green trade facility for the group backing of PETRONAS, and its UAE-based subsidiary, Amplus Dubai, in their advancement towards embracing feasible practices through the improvement of their international trade processes.”

Read more: https://www.prnewsdistribution.co.uk/standard-chartered-announces-first-green-trade-finance-facility-in-uae


Comments

Post a Comment

Popular posts from this blog

KredX collaborates with Tradewind Finance to deliver comprehensive export and supply chain financing

Image
Bengaluru (Karnataka) [India], June 3 (ANI/NewsVoir): Continuing its efforts to empower businesses with fast digital and affordable access to liquidity, KredX, India's largest supply chain finance platform, today announced its collaboration with Tradewind Finance, a global financial solutions company to corroborate enhanced export and supply chain financing solutions for business corporates. This collaboration will focus on providing financing to KredX's customers for their international business, exports and imports, at competitive rates by leveraging KredX's platform and financing capabilities of both the companies. In November 2021, KredX received an "In-principle" approval by IFSCA to offer a platform for Indian companies to transact and raise financing for their exports and imports. This allows KredX to extend its expertise in offering a world-class transaction platform and offer financing solutions to its existing customer base as it continues to add new one...
Read more

Future of Banking and Financial Services: 2020

Image
The world of banking and financial services has changed drastically over the past few years. The rise of technological innovation in banking and fintech sector has changed the way banking software companies have been operating. There has been a rush of cryptocurrencies powered by Blockchain, along with the AI automation that has disrupted the banking and financial space for better. It is not tough to say that we have entered into a new era of high-end banking services with improved security, safety, and trust in online transactions, greater than ever before. There are over 94% of consumers, who want to complete transactions online. This has just ensured the reformed trust in banking software companies for financial product development for feature-rich banking applications. This blog will encompass the futuristic trends in Banking and Financial Services for the year 2020. Let’s have a look: 1. FinTech will drive the new business model For a long time now, new market entrants are finding...
Read more

Tradeteq Joins Hands With XinFin Group on Trade Finance NFT

Image
 As per the latest reports, Tradeteq, a technology service provider for trade finance asset distribution has completed its most-talked world’s first trade finance-based non-fungible token (NFT) transaction, on Singapore-based eXchange inFinite’s (XinFin) XDC network. This aforesaid new transaction took place with Accelerated Payments, a Dublin-headquartered invoice finance company as the asset originator. During executing the transaction, the trade finance assets were transformed into NFTs by leveraging the XDC network’s blockchain technology. This enables the institutional financial backers to purchase and sell the tokens that demonstrate the value of an off-chain asset as well as provides the token holders with the lawful entitlement. Accelerated Payments Founder and CEO Ian Duffy said in the report, “The joint effort between XinFin, Tradeteq, and Accelerated Payments ensures a complete & transparent chain from investors to the beneficiary of funding with reliability and liqu...
Read more