Qatar Islamic Bank (2024)
| Signing Date | 12 Jun 2023 |
| Region of Headquarters: | Middle East & Africa |
| Current EPFI Reporting Year/Period: | 2024 |
| Institutional Reporting: | No Report Available |
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Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Project Finance Advisory Services
Total number mandated in the reporting period: 0
Project Finance Transactions
Total number that reached Financial Close in the reporting period: 0
Project-related Refinance & Project-related Acquisition For Project Finance
Total number that reached Financial Close in the reporting period: 0
Project-Related Corporate Loans
Total number that reached Financial Close in the reporting period: 1
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | |||
| Oil & Gas | |||
| Power | |||
| Others | 1 | ||
| Region | |||
| Americas | |||
| Europe, Middle East & Africa | 1 | ||
| Asia Pacific | |||
| Country Designation | |||
| Designated Country 4 | |||
| Non Designated Country | 1 | ||
| Both | |||
| Independent Review | |||
| Yes | |||
| No | 1 | ||
| Totals | 1 | ||
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment.
Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans
Total number that reached Financial Close in the reporting period: 0
Project Name Reporting For Project-related Corporate Loans (And Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans)
Number of projects that were not disclosed as per the disclosure conditions specified in Annex B of the Principles: 1
Under EP4, project name reporting is encouraged for Project-Related Corporate Loans that have reached Financial Close and required for Project Finance transactions that have reached Financial Close.
EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Implementation of the Equator Principles
Qatar Islamic Bank (QIB) became an official signatory of the Equator Principles (EP) in 2023, marking a significant step in aligning its financing with internationally recognized environmental and social risk management standards. In 2024, the Bank operationalized the EP framework across relevant financing activities, with implementation guided by its ESG Due Diligence Toolkit and risk classification methodology aligned with the Equator Principles and EBRD sector categorization.
The governance of EP implementation at QIB is overseen by a dedicated Sustainability Management Committee chaired by the Group CEO. This committee reports directly to the Board’s Nomination and Corporate Governance Committee and includes members of the executive team, ensuring senior-level ownership and strategic alignment.
QIB has established a robust ESG due diligence process to systematically identify and assess environmental and social risks across all corporate finance transactions. This process is anchored in the Bank’s ESG Due Diligence Toolkit, which provides a structured and consistent framework across the entire credit lifecycle. For transactions exceeding QAR 250 million, QIB applies a comprehensive ESG Risk Classification Matrix to categorize projects as High, Medium, or Low risk. This classification is informed by the Equator Principles guidelines and EBRD sector guidelines.
The ESG due diligence covers a wide range of factors across three core dimensions: environmental (e.g., pollution, emissions, biodiversity, water usage, and waste management), social (e.g., labor practices, occupational health and safety, human rights, and community impact), and governance (e.g., transparency, business integrity, and compliance with applicable laws). The outcomes of the ESG due diligence are incorporated into the credit memo and reviewed by the Credit Review Department and Credit and Investment Committee. Where material risks are identified, clients may be required to provide additional mitigation plans or demonstrate alignment with EP safeguards before or during financial close. ESG considerations are also embedded in QIB’s Risk Appetite Framework and reflected in the responsibilities of the Sustainability Management Committee, which tracks ESG risk exposure across the portfolio and reports to the Board.
For EP-applicable projects, QIB ensures that all financing agreements incorporate Equator Principles undertakings, thereby embedding environmental and social covenants in the contractual documentation. These covenants reflect the outcomes of the ESG due diligence process and are aligned with applicable performance standards and mitigation plans. To ensure ongoing accountability, QIB monitors ESG performance throughout the financing period, including periodic reviews of environmental and social compliance, borrower engagement, and, where relevant, project site evaluations.
To build internal capacity, QIB has conducted ESG-related training sessions across risk and credit teams. These efforts are supplemented by ongoing refinement of ESG tools and metrics. The Bank also discloses Scope 1 and Scope 2 GHG emissions, with plans to assess Scope 3 (financed emissions) underway.
Through the adoption and implementation of the Equator Principles, QIB strengthens its commitment to sustainable development, ensuring its project finance activities uphold the highest environmental and social standards while remaining fully aligned with Shari’a principles and Qatar’s national sustainability agenda.