Infracorp Showcases the Kingdom's First Sustainable Sukuk
Infracorp, a leading specialised company in investing in the infrastructure and sustainable development sector, has announced its participation in a United Nations workshop recently held in Bahrain to highlight the Kingdom's contribution to global efforts in financing sustainable development. The company presented its pioneering experience in issuing Bahrain's first sustainable sukuk.
Infracorp took part in a panel discussion entitled 'Innovative Financing Instruments: SDG-Linked Bonds and Sukuk'. Ms. Zeeba Askar, Chief Sustainability and Investment Officer at Infracorp, delivered a presentation titled 'Bahrain's First Sustainable Sukuk'. She outlined the company's transition from green sukuk to a broader sustainable sukuk framework in line with international trends for financing projects with environmental and social impact.
Ms. Askar confirmed that Infracorp's sustainable sukuk framework is fully aligned with the ICMA's Green, Social and Sustainability Bond Principles, supports Bahrain's Economic Vision 2030 and is consistent with the United Nations SDGs. She added that the framework's governance is underpinned by an independent, accredited external opinion to ensure transparency and credibility. The company has mapped key performance indicators, adopted a rigorous project-selection mechanism based on expected outcomes, and issues regular reports to measure each project's environmental and social impact.
Commenting on the occasion, Ms Askar said: 'Our objective went beyond issuing a conventional finance instrument; it was about setting a standard for what a Sustainable Sukuk should represent. We carefully built a framework aligned with Bahrain's Economic Vision 2030 and the UN Sustainable Development Goals, with measurable KPIs mapped across every eligible project. The result is a Sukuk rooted in transparency, governed by rigor, and driven by real-world impact.'
The workshop highlighted Bahrain's leading efforts in development finance, including Islamic finance, SDG-linked bonds and the fintech sector, ahead of the fourth International Conference on Financing for Development (FfD4), scheduled to take place in Seville, Spain, from June 30 to July 3, 2025. It brought together UN officials, public-sector representatives and private-sector partners to discuss the Kingdom's participation in the conference.
FfD4 will serve as a pivotal platform to assess progress on global commitments to finance sustainable development and to address challenges that have emerged since the adoption of the Addis Ababa Action Agenda in 2015. The conference will gather high-level representatives from governments, international and regional organisations, financial and commercial institutions, the private sector, civil society and the United Nations system.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
14 hours ago
- Daily Tribune
World Bank lifts ban on nuclear energy financing
The World Bank is re-entering the nuclear energy space 'for the first time in decades,' its President Ajay Banga said Wednesday, as it works towards meeting growing electricity demand in developing countries. Banga said in an email to staff that the bank will work closely with United Nations nuclear watchdog the International Atomic Energy Agency (IAEA), 'strengthening our ability to advise on non-proliferation safeguards' and regulatory frameworks. The decision comes as electricity demand in developing countries is set to more than double by 2035, Banga noted in the memo. To meet this need, annual investment in energy generation, grids and storage will have to increase from $280 billion today to about $630 billion. 'We will support efforts to extend the life of existing reactors in countries that already have them, and help support grid upgrades and related infrastructure,' Banga said. The Washington-based lender will also work to speed up the 'potential of Small Modular Reactors' so these can become a viable choice for more countries eventually. Banga, who took the helm of the development lender in 2023, has pushed for a change in the bank's energy policy -- and his letter comes a day after a board meeting. 'The goal is to help countries deliver the energy their people need, while giving them the flexibility to choose the path that best fits their development ambitions,' Banga said. Besides focusing on improving grid performance, he added that the institution will continue financing the retirement or repurposing of coal plants, supporting carbon capture for industry and power generation.
Biz Bahrain
2 days ago
- Biz Bahrain
Infracorp Showcases the Kingdom's First Sustainable Sukuk
Infracorp, a leading specialised company in investing in the infrastructure and sustainable development sector, has announced its participation in a United Nations workshop recently held in Bahrain to highlight the Kingdom's contribution to global efforts in financing sustainable development. The company presented its pioneering experience in issuing Bahrain's first sustainable sukuk. Infracorp took part in a panel discussion entitled 'Innovative Financing Instruments: SDG-Linked Bonds and Sukuk'. Ms. Zeeba Askar, Chief Sustainability and Investment Officer at Infracorp, delivered a presentation titled 'Bahrain's First Sustainable Sukuk'. She outlined the company's transition from green sukuk to a broader sustainable sukuk framework in line with international trends for financing projects with environmental and social impact. Ms. Askar confirmed that Infracorp's sustainable sukuk framework is fully aligned with the ICMA's Green, Social and Sustainability Bond Principles, supports Bahrain's Economic Vision 2030 and is consistent with the United Nations SDGs. She added that the framework's governance is underpinned by an independent, accredited external opinion to ensure transparency and credibility. The company has mapped key performance indicators, adopted a rigorous project-selection mechanism based on expected outcomes, and issues regular reports to measure each project's environmental and social impact. Commenting on the occasion, Ms Askar said: 'Our objective went beyond issuing a conventional finance instrument; it was about setting a standard for what a Sustainable Sukuk should represent. We carefully built a framework aligned with Bahrain's Economic Vision 2030 and the UN Sustainable Development Goals, with measurable KPIs mapped across every eligible project. The result is a Sukuk rooted in transparency, governed by rigor, and driven by real-world impact.' The workshop highlighted Bahrain's leading efforts in development finance, including Islamic finance, SDG-linked bonds and the fintech sector, ahead of the fourth International Conference on Financing for Development (FfD4), scheduled to take place in Seville, Spain, from June 30 to July 3, 2025. It brought together UN officials, public-sector representatives and private-sector partners to discuss the Kingdom's participation in the conference. FfD4 will serve as a pivotal platform to assess progress on global commitments to finance sustainable development and to address challenges that have emerged since the adoption of the Addis Ababa Action Agenda in 2015. The conference will gather high-level representatives from governments, international and regional organisations, financial and commercial institutions, the private sector, civil society and the United Nations system.
Daily Tribune
5 days ago
- Daily Tribune
Bahrain Builds Crypto Hub
TDT | Manama As Bitcoin rebounds globally, Bahrain is quietly building its own digital gold rush. Supported by progressive regulation and hightech infrastructure, the Kingdom is emerging as a serious contender in the global cryptocurrency mining market, and one Bahraini firm says it is only the beginning. Rising global role Crypto Miners, a company specialising in the sale, installation, and maintenance of mining equipment, says the sector's growing momentum within Bahrain is helping reinforce the Kingdom's position as a competitive regional hub with global potential. The company believes this development is also drawing more foreign direct investment into Bahrain's digital economy. 'Bahrain's financial ecosystem and regulatory clarity give us the ability to grow sustainably and export our services abroad,' said Wassim Saaduddin, Technical Sales Manager at Crypto Miners. He added that the Kingdom is uniquely placed to serve as a launchpad for international crypto operations, thanks to its policy stability and infrastructure. Infrastructure and awareness At the core of Crypto Miners' strategy is a vision to localise this high-tech industry, building critical infrastructure , training Bahraini talent , and supporting knowledge transfer. The company also sees awareness as essential to sustainable sector growth, and says it actively runs public engagement campaigns to help familiarise Bahrainis with digital currencies and blockchain. 'As part of our corporate social responsibility, we're committed to raising awareness about digital assets and creating safe, reliable investment pathways,' Saaduddin noted. Aligned with national vision Crypto Miners says its longterm efforts are in full alignment with Bahrain's Economic Vision 2030, which prioritises innovation, digital transformation, and sustainable growth. The company believes that positioning Bahrain as a regional and global leader in crypto mining is not only realistic, but already in progress. With firms like Crypto Miners anchoring the sector, Bahrain appears to be gaining traction in a space once dominated by much larger economies.
