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. This falls in line with NBB’s commitment to environmental sustainability as well as its alignment to Bahrain’s efforts of adhering to the UN Sustainable Development Goal 13 concerning action on climate change and commitment to net zero by 2060.

Commenting on the new auto financing scheme, 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.”

Aiming to be a regional Environmental, Social and Governance (ESG) leader, NBB continues to embed sustainable practices into every aspect of its operations, said a statement.

NBB is widely recognised in the industry for its sustainability efforts, having been named as the ‘Best Bank for ESG in Bahrain’ by the Euromoney Awards for Excellence in 2022 and 2023. – TradeArabia News Service