How do you measure the impact of ESG initiatives on the company’s overall performance and reputation?

Measuring the impact of QInvest’s Environmental, Social, and Governance (ESG) policies on the company’s overall performance and reputation is a key matter at QInvest. We do not only ensure compliance with these policies but also use best efforts to enhance their positive effects on the company’s overall success; as the well-integration of ESG policies into the company’s operations helps to create a stable and trustworthy business environment that solidifies our relationship with our stakeholders.

In terms of reputation, our ESG and CSR initiatives, such as the QNITED program that was launched back in 2015, are what differentiate QInvest as a company, and propels it to a “responsible” business stance. As the legal department of the company, we ensure that these initiatives align with both Qatar’s legal standards and the company’s ethical values. This alignment is crucial for maintaining QInvest’s reputation as a socially responsible and ethical leader in Sharia’a compliant finance. We provide guidance on legal compliance and best practices, ensuring that our initiatives resonate positively with the community and enhance the company’s standing in the financial sector.

Furthermore, the legal department plays a proactive role in identifying and mitigating risks associated with ESG policies. By staying ahead of regulatory changes and advising on potential legal challenges, we ensure that QInvest continues to meet the high expectations of our stakeholders. This proactive approach helps us not only avoid legal pitfalls but also maximise the positive impact of our ESG initiatives on the company’s reputation and performance.

How have you integrated technology into your legal processes, and what impact has this had on efficiency and compliance?

There’s no doubt that the introduction of artificial intelligence over the past recent years has revolutionised work processes across all industries on top of which is the legal field. Thanks to AI, conducting tasks such as due diligence, contract reviews and document filing has become simpler, less time consuming and more efficient.

QInvest being no stranger to innovation, has; therefore, decided to partner with Microsoft, one of the main collaborators of Harvey – the AI startup that is set to take the legal world by storm – to adopt the AI solution that best suits the business’ needs.

While discussions with Microsoft are still ongoing, QInvest’s legal department has since introduced AI to streamline several of its day-to-day tasks, including: creating a smart repository for its documents to seamlessly locate and mimic previous transactions with the same clients and avoid redundant or conflicting terms; and leveraging the current technological advancement to considerably enhance the legal department’s interaction and support.

Still, the deployment of AI in the legal department’s processes comes with its own set of challenges. Breaches of confidentiality, unethical handling of client data, and disruption of business services are all barriers that come to mind when we think about AI integration in our processes. Therefore, as the legal industry continues to evolve in conjunction with the development of AI, we carefully weigh and assess the aforementioned challenges prior to any decision relating to the adoption of AI in our processes, as our priority always remains to provide our clients and business partners with the best service possible.