ADIB issued a new green financing product to align with its ESG commitment

Abu Dhabi, 21 December 2023: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has signed a Mou at COP 28 with Sharaf DG energy, a unit of the Sharaf DG Group, to offer customers a convenient and sustainable way to adopt clean energy at their homes.  The green financing is available through personal finance or ADIB cards to allow customers in the UAE to transform their homes to clean energy at a preferred rate to pay off the cost of solar and renewable energy installation.

Through this collaboration, customers can  finance Solar PV Systems for their homes from Sharaf DG Energy using either through a green personal financing or card.

Amit Malhotra, Group Head of Retail Banking at ADIB, said: “We are proud to partner with Sharaf DG on a collaboration that contributes to the advancement of sustainability objectives in the UAE. The energy transition is a topic of vital importance, and ADIB strives to promote the usage of alternative sources of energy that are necessary for the successful transition. By choosing to make environmentally-friendly upgrades,  home owners are not only contributing to a more sustainable future but they also stand to save money."

Mr. Ramkumar Sunkari, Business Head - Energy and CFO of Sharaf DG, expressed pride in their substantial experience in solar projects and their commitment to providing payment flexibility and support to customers. The collaboration between Sharaf DG with ADIB serves as an example of the positive business development of UAE's organizations towards promoting and incentivizing decarbonization and addressing climate change.
According to data from the World Green Building Council, buildings are responsible for more than 39 per cent of all global carbon emissions due to the energy needed to cool, heat and supply electricity to homes and workplaces.

Sharaf DG Energy will  provide end-to-end energy solutions, from initial consultation and system design to installation, maintenance, and ongoing support.

As a leading Islamic financial institution, ADIB has a track record of contributing to sustainable development. ADIB has arranged and taken part in numerous sustainable financing solutions tailored for companies and individuals. It recently launched the Volt Electric Vehicle Finance program, offering a highly competitive financing rate of 1.79%, the lowest in the industry for new electric cars. ​