Bank of Palestine Becomes the First Bank in the Middle East to Sign Up to Citi’s Sustainable Deposit Solution
Bank of Palestine (BOP) has become the first bank in Palestine and the Middle East to deposit funds in Citi’s Sustainable Deposit Solution. Citi’s Sustainable Deposit Solution supports clients when investing their excess cash and meeting their sustainability goals.
This will enable Bank of Palestine to indirectly support different sustainable financing projects across Citi’s portfolio, such as renewable energy, water conservation, healthcare and education as well as in social projects that expand financial inclusion for women and traditionally under-represented communities.
This is in line with BOP’s commitment towards implementing a holistic sustainability strategy in accordance with international standards and best practice, which was kicked off through a focus on governance to enshrine this commitment, with a sustainability committee at the board level, a dedicated sustainability team, and ESG commitments across operations, including releasing the bank’s first sustainability report for the year 2021.