Mashreqbank PSC : Mashreq launches an innovative nature friendly savings account, allowing customers to contribute towards environmental causes while unlocking savings

Dubai, UAE: Mashreq, a leading financial institution in the MENA region, has launched the Nature Saver Account in the UAE, a new product enabling customers to contribute towards a range of environmental causes while unlocking savings at Mashreq's competitive profit rates. Nature Saver Account, which is fully digitally-enabled, will provide customers with the option to contribute a share of their income by donating their savings profit - wholly or partially - to a top tier organisation dedicated to environmental causes such as safeguarding habitats, reversing damage & nature loss, and the protection of endangered species here in the UAE - including the Caracal, the Arabian Tahr, the Arabian Eagle Owl, and the Blanford's Fox. The launch falls under the Mashreq's Climb2Change global initiative, and aims to safeguard wildlife and biodiversity, while preserving critical habitats in nature. As part of this effort, Mashreq has also stopped issuing credit cards made from non-recycled materials and shifted to using 100% recycled plastics for all card production, a move which significantly reduces the environmental impact of the bank's card business. Mashreq, through the Nature Saver Account, will allow the customers to donate a percentage of the profits earned (either partially or wholly) to Emirates Nature-WWF, to the causes they wish to support - protecting and restoring diverse habitats and ecosystems , or protecting the wildlife and endangered species of the UAE. Commenting on the launch of the Nature Saver Account, Fernando Morillo, Group Head of Retail Banking at Mashreq, said: "As a bank with a clear leadership position in the sustainability and digital spaces, we recognise the role we must play in facilitating the transition to a low carbon society and addressing the needs of our growing customer base. Introducing a savings account with the option to contribute to environmental causes aligns with our dedication to offer solutions that fit our customers' evolving needs and priorities and support them on their own sustainable transition journeys. "The launch of Nature Saver Account furthers our commitment to providing a range of eco-friendly solutions and aligns with our ambitions to accelerate positive environmental impact, in turn solidifying our leadership in sustainable banking practices in the MENA region and globally." Laila Mostafa Abdullatif, Director General of Emirates Nature-WWF commenting on the partnership, said: "We are delighted to announce a unique partnership between Emirates Nature-WWF and Mashreq that places environmental sustainability at center stage. The innovative initiative empowers Mashreq customers to make a meaningful impact towards supporting our environmental projects, transforming the power of individual actions into a force for positive change. The initiative aligns with our mission and also reflects the spirit of responsible corporate citizenship. We thank Mashreq and all customers who contribute to the initiative and invite others to join us in safeguarding our planet for generations to come." Mashreq's Nature Saver Account, a fully Shariah compliant account, addresses the rising consciousness from customers towards sustainability, which has become an increasingly important consideration for corporates and individuals alike. With the roll-out of the Nature Saver Account, Mashreq aims to raise awareness and drive engagement and contributions towards environmental causes on an on-going basis, in line with its efforts to align its product offering with the goals and expectations of its customer base and other key stakeholders. Mashreq's Climb2Change global initiative integrates the bank's wide-ranging ESG milestones, sustainable finance commitments, ambitions to accelerate environmental and social impact, and its impactful contributions to shaping a sustainable future. The Climb2Change initiative builds on Mashreq's active participation in COP28 and underscores the bank's unwavering commitment to driving sustainability and impact, in line with its 'Rise Responsibly' principle. Mashreq remains committed to innovation by spearheading the digital banking services offering with region-first launches of new products and technologies.