DUBAI, UAE, Aug. 2, 2023
/PRNewswire/ -- Yalla Group Limited ("Yalla" or the "Company")
(NYSE: YALA), the largest Middle
East and North Africa
(MENA) based online social networking and gaming company, announced
today it has established a Sustainable Account for Cash Management
with Standard Chartered, one of the world's leading international
banks.
Standard Chartered launched its Sustainable Accounts in 2021 to
enable its corporate clients to contribute to sustainable
development, while maintaining daily access to their finances for
critical liquidity management needs. Deposits in Sustainable
Accounts are referenced against Standard Chartered's sustainable
projects, addressing some of the world's gravest long-term
sustainability threats such as climate change. Sustainable projects
are evaluated based on Standard Chartered's Green and Sustainable
Product Framework, which is aligned with the United Nations'
Sustainable Development Goals (SDGs).
"At Yalla Group, sustainability has always been integral to our
corporate values," stated Mr. Yang
Tao, Founder, Chairman and CEO of Yalla. "As MENA continues to develop rapidly, we
will leverage our deep local insights to broaden our business
horizons and incorporate sustainable practices company-wide.
Ensuring that our cash management procedures contribute to
enhancing sustainability throughout the local and international
economies reflects Yalla's overall direction as well as our
profound commitment to the MENA region."
Motasim Iqbal, Managing Director,
Regional Head of Transaction Banking Sales for Africa and the Middle East at Standard Chartered, said: "Our
Sustainable Accounts allow our corporate clients to advance their
social responsibility efforts by embedding sustainability into
their cash management while fulfilling their liquidity needs.
Standard Chartered has been a key catalyst of the sustainability
agenda in the UAE and the broader MENA region. We are pleased to be
working with Yalla and look forward to supporting Yalla Group on
its sustainability journey."
Standard Chartered's Green and Sustainable Product Framework has
been co-authored with industry experts Sustainalytics.
About Yalla Group Limited
Yalla Group Limited is the largest MENA-based online social
networking and gaming company, in terms of revenue in 2022. The
Company operates two flagship mobile applications, Yalla, a
voice-centric group chat platform, and Yalla Ludo, a casual gaming
application featuring online versions of board games, popular in
MENA, with in-game voice chat and localized Majlis functionality.
Building on the success of Yalla and Yalla Ludo, the Company
continues to add engaging new content, creating a
regionally-focused, integrated ecosystem dedicated to fulfilling
MENA users' evolving online social networking and gaming needs.
Through its holding subsidiary, Yalla Game Limited, the Company has
expanded its capabilities in mid-core and hard-core games in the
MENA region, leveraging its local expertise to bring innovative
gaming content to its users. In addition, the growing Yalla
ecosystem includes YallaChat, an IM product tailored for Arabic
users; Waha, a social networking product featuring 3-D avatars; and
casual games such as Yalla Baloot and 101 Okey Yalla, developed to
sustain vibrant local gaming communities in MENA. Yalla is also
actively exploring outside of MENA with Yalla Parchis, a Ludo game
designed for the South American markets. Yalla's mobile
applications deliver a seamless experience that fosters a sense of
loyalty and belonging, establishing highly devoted and engaged user
communities through close attention to detail and localized appeal
that profoundly resonates with users.
For more information, please visit: https://ir.yalla.com.
About Standard Chartered
Standard Chartered is a leading international banking group,
with a presence in 57 of the world's most dynamic markets and
serving clients in a further 64. The Bank's purpose is to drive
commerce and prosperity through its unique diversity, and its
heritage and values are expressed in the brand promise, here for
good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
For more stories and expert opinions please visit
Insights at sc.com. Follow Standard Chartered on Twitter,
LinkedIn, Instagram and Facebook.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to"
and similar statements. Statements that are not historical facts,
including statements about Yalla Group Limited's beliefs, plans and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. Further
information regarding these and other risks is included in Yalla
Group Limited's filings with the SEC. All information provided in
this press release is as of the date of this press release, and
Yalla Group Limited does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
Yalla Group Limited
Investor Relations
Kerry Gao - IR Director
Tel: +86-571-8980-7962
Email: ir@yalla.com
Piacente Financial Communications
Jenny Cai
Tel: +86-10-6508-0677
Email: yalla@tpg-ir.com
In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
Email: yalla@tpg-ir.com
View original
content:https://www.prnewswire.com/news-releases/yalla-group-establishes-sustainable-account-with-standard-chartered-301891283.html
SOURCE Yalla Group Limited