Support for the Environment and Women

First: Environmental Support All companies, including banks, have social responsibilities towards the environment in which they operate. It is their duty to protect the environment by preventing pollution of all kinds and supporting efforts to reduce air pollution. There are green banks in developed countries aimed at financing economic development based on sustainable development and knowledge. This is a type of organized method to create a clean society and environment that raises the economic level and pushes society towards a better life while maintaining environmental balance across all forms of biodiversity. In recent years, the concept of the green economy has emerged, which refers to any economic activity that aims to achieve sustainable development while considering the reduction of environmental risks and resource scarcity. Due to its definitional nature, the green economy is closely linked to environmental economics, but it is characterized by a focus on political rather than economic application. Awareness is key Achieving a green economy requires cooperation between the public and private sectors. This cooperation includes, for example, legislation, directing investment towards green industries and technology, and promoting awareness about the importance of a sustainable environment in enhancing companies' reputation and productivity and encouraging them to fulfill their social responsibilities. Commercial banks can support the environment by: First: Investing in financing the generation of electricity from clean energy, such as solar cells. Second: Generating electricity from wind. Third: Financing waste sorting projects. Waste sorting projects from consumer usage lead to sorting waste into categories such as cardboard, glass, wood, plastic, iron, etc., where these materials can be recycled, thereby saving space for storing them. Waste sorting projects can employ several workers, helping provide job opportunities for young people. For example, recycling waste fulfills three basic needs in human societies: First: It reduces poverty, which is known as the scourge of societies, as those who work in this sector are usually people who do not possess high scientific capabilities, i.e., generally from the poor class. Second: Recycling reduces costs for industries, especially since recycled materials are sold at lower prices than raw materials, providing additional profits for companies. Third: Recycling reduces environmental harm and prevents the loss of tree wealth, which is essential for humans. For example, recycling paper allows saving tons of wood from trees, thus maintaining a green environment. Targeting Emerging Markets There is a large market in Iraq for financing projects that contribute to environmental protection, including: First: Products supporting the production of clean electricity. Second: Financing for waste sorting projects. All cities, districts, and towns need these projects. << Banks' Eyes Don't See Green >> Most Iraqi and Arab banks wear black glasses towards financing for environmental support and sustainable energy. Transitioning to a green economy, aligned with the characteristics and priorities of development in the Arab world, has become an economic and environmental necessity. Concepts related to the green economy are no longer mere options but have become a mandatory matter in the Arab world in light of the evident decline in the environmental conditions facing the Arab economy, against the backdrop of growing development needs and population and the need to provide job opportunities. Second: Providing Financing to Support Women in Finding Job Opportunities Al-Mustashar Islamic Bank believes in the Chinese proverb, 'Don't give me the fish but teach me how to catch it,' aiming to empower men and women to learn crafts to earn money through them. The goal of empowering women is to invest stored energies and their innovative ideas to boost the economy and promote the local market and its creative products with a national character that reaches the world with a feminine touch. 'Women's economic empowerment' is defined as providing entrepreneurial women with financial and technical support to create sustainable projects that enable them to live in dignity without needing others or supporting existing small projects in both marketing and technical aspects, ensuring project sustainability and enabling women to develop themselves economically. Women's economic empowerment is one of the most important pillars that most countries work on, aiming to qualify, educate, and train women in permanent projects rather than temporary grants to impact economic development, participate in decision-making, labor markets, and political positions. The project aims to empower women suffering from unemployment and poverty by finding income for them, helping them escape poverty, and enabling them to be self-reliant and support their families. This requires training and qualifying these women in professions and teaching them project management and marketing the goods and services they produce. Women constitute fifty percent of the population. It is essential to provide financial support to women who wish to find work through a special product to support women who have productive or service projects to change their social and economic reality. Many job opportunities are available for women, either at home or by renting a shop. A woman can have a home-based business, such as making sweets, sewing and embroidery, a beauty salon, or a fabric shop. Women can engage in various economic activities by renting their own shop, such as a pastry shop, beauty salons, pharmacies, medical service shops, restaurants, or driving schools. Al-Mustashar Islamic Bank can assist women who wish to obtain small or medium financing to fund these projects for periods ranging from 3 to 5 years. Training women who want to practice a profession in various fields is essential. Financing alone is not enough, and it is necessary to provide training and experience to ensure the project's success. Women can be helped by providing information on available opportunities, how to market the service or product, and how to manage machinery and equipment. The Role of Al-Mustashar Islamic Bank in Supporting Entrepreneurial Women Al-Mustashar Islamic Bank can contribute to supporting working women by allocating a special product to finance entrepreneurial women to fund specific projects proposed by young women, whether working from home or opening shops, workshops, or offices to teach driving. The financing can range from one million dinars up to fifty million dinars for three years at an interest rate determined by the bank. Types of Products: First: Financing for opening and developing nurseries and kindergartens. The financing aims to help women open nurseries and kindergartens, where the project's revenues can help pay off monthly installments. Second: Financing a driving school. Financing helps qualified women teach other women to drive. Third: Financing to support home businesses (sewing - pastries - food preparation, beauty services). Fourth: Financing for opening shops (restaurant - pastries - Kurdish bread - nursing clinics). Al-Mustashar Islamic Bank requires the necessary documents when studying financing, along with real estate guarantees from the applicant.