NBB first Bank in Bahrain to encourage carbon emission reduction with auto finance

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The National Bank of Bahrain (NBB) has become the first Bank in Bahrain to introduce an auto financing scheme which will actively encourage the reduction of carbon emissions.

Environmentally conscious customers purchasing vehicles through the NBB Auto Finance scheme will have the opportunity to avail a discounted interest rate based on the vehicle’s fuel efficiency level.

The initiative will reward customers who purchase vehicles with renewable energy sources, low carbon emissions and with a ‘Very Good’ or above fuel efficiency rating. Subah Abdullatif Al Zayani, Chief Executive - Retail Banking at NBB said; “We are proud to be the first Bank in Bahrain to offer auto financing that encourages customers to choose a vehicle with a ‘Very Good’ or above fuel efficiency rating, which will support in reducing carbon footprint.

As the ‘Best Bank for ESG in Bahrain’ we will continue to develop further ESG initiatives as part of our drive to increase our sustainable financing portfolio and protect the environment.