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Tuesday 14 February 2023

Housing Bank Signs an Agreement to Promote Green Finance with CRIF ITS - Jordan


In a ceremony attended by representatives from both parties, the Housing Bank signed an agreement to promote green financing with CRIF Information Technology Solutions, part of CRIF Spa. International Group.

The agreement allows the Housing Bank and its clients from enterprises with various business sizes to benefit from Synesgy®, a digital platform that evaluates companies based on environmental, social, and governance (ESG) criteria. This step is in line with national efforts that work towards adopting top standards in regards to environmental, community and governance practices, which is considered one of the most important outcomes of the Jordan Strategy Forum 2022, in addition to the Central Bank of Jordan's efforts to adopt green finance strategies.

The agreement was signed by Vasken Ajemian, Housing Bank’s Chief Banking Officer, and Areej Obeidat, CRIF ITS’ Branch Manager. Commenting on the occasion Ajemian said, “We are proud of our partnership with CRIF ITS as a strategic partner within the bank’s plan to apply and adopt environmental, social, and governance sustainability standards through Synesgy®.”

He added, “This agreement comes as part of the Housing Bank’s commitments and strategic plans in issuing annual sustainability reports. In addition to raising the readiness of credit policies and sustainable trade financing strategies, choosing supply chains and risk management, and financing small and medium enterprises (SMEs) in addition to large companies.”

Furthermore, Mrs. Areej Obeidat commented on this agreement, saying, “I am proud of our partnership with Housing Bank. As one of the largest banking institutions in the Jordanian banking market, our partnership is playing a significant and effective impact in spreading awareness to adopt top standards in environmental, social, and governance (ESG) practices within the banking and commercial sector in Jordan.”

It is worth to mention that sustainable and green finance are receiving much attention recently, which refers to financing and investment procedures that consider environmental, social, and governance implications. Companies, around the world, that adhere to sustainability standards, typically perform better, and lead to longer investments than others, when environmental, social, and governance practices are put into consideration when making decisions.

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