Tawreeq Holdings, a comprehensive Supply Chain Finance solutions provider for Small and Medium-size Enterprises (SMEs) and their corporate clients, endorsed the United Nations Environment Programme Finance Initiative’s (UNEP FI) Positive Impact Manifesto and the Principles for Positive Finance.
The Manifesto outlines a Positive Impact Roadmap towards the achievement of the Sustainable Development Goals (SDGs) and a solution-building approach to developing and implementing new business models and financing approaches that will help address the SDG funding gap. Earlier this year, Tawreeq Holdings was the first UAE financial institution to endorse and become a signatory of the United Nations Environment Statement of Commitment by Financial Institutions on Sustainable Development.
“It is an imperative global need for all of us to do our part in addressing the growing global challenges. Tawreeq believes in the strong role the private sector plays across its various industries, and in our expertise in Supply Chain Finance, we focus on deploying solutions that not only support sustainable sectors but also essentially draw emphasis on sustainability of businesses and communities to expand the awareness and collaborative impact towards achieving the global Sustainable Development Goals (SDGs). We are looking forward to contributing to the Positive Impact Finance initiative and continue to advocate for sustainable finance needs globally,” said Haitham Al Refaie, Group Chief Executive Officer, Tawreeq Holdings.
With subsidiaries in the UAE and Luxembourg, Tawreeq Holdings a pioneer in comprehensive Sharia-compliant technology-enabled SCF solutions offers SMEs, corporates and investors access to customized SCF programs that provide sustainable solutions to all stakeholders and promote a cohesive financial ecosystem.
Tawreeq Holdings perceives Supply Chain Finance as a form of sustainable finance that offers SMEs access finance, empowers business stability and provides an efficient framework for socially and environmentally conscious businesses and investors to access direct economic impact projects. Tawreeq Holdings aims to tackle the global challenges by empowering sustainable business practices through a collaborative financing ecosystem, while aiming to change the scenario by addressing key issues and facilitating finance through factoring, reverse factoring and ethical management of the entire supply chain to enable sustainable business growth.