SUSTAINABILITY AND SOCIAL RESPONSIBILITY
Sustainability and Social Responsibility
The Association exercises its role in the field of sustainability and social responsibility on two levels.
The first level is the activities carried out directly by the Association as an embodiment of its responsible social role in community. Over the past years, the Association has implemented many initiatives in this field, such as making a banking dictionary for people with special needs to be used by bank employees, participating in Bahrain’s greening campaigns, donation campaigns during the Corona pandemic and for the victims of the earthquake in Turkey and Syria, awareness campaigns against bank fraud and facilitating the provision of funds to clean energy and SMEs, in cooperation with Tamkeen, and organizing workshops for bank employees on best practices of sustainability and social responsibility.
As for the second level, it has formed a permanent committee for sustainability and social responsibility consisting of the heads of the sustainability and social responsibility departments in the member banks. It is responsible for developing programs, regulations and initiatives to encourage banks to follow the best and latest practices of sustainability and social responsibility.
Support to the Bahrain Diabetes Society
(2024)
The Bahrain Association of Banks (BAB) has extended its support to the Bahrain Diabetes Society, received by H.E. Lieutenant General Dr. Shaikh Mohammed bin Abdullah Al Khalifa, President of the Society. This initiative reflects BAB’s commitment to social responsibility and the financial sector’s role in supporting civil society and sustainable development in Bahrain.
The support was presented in the presence of Dr. Waheed Al Qassim, CEO of BAB, Mr. Abdulwahid Janahi, CEO of BENEFIT Company, and Talal Kiksu, Deputy Group CEO for Private Banking & Wealth Management at Ahli United Bank.
Dr. Al Qassim praised the Bahrain Diabetes Society’s efforts under the leadership of Dr. Shaikh Mohammed, especially in raising awareness about diabetes and providing ongoing support to patients through various programs and initiatives.
He stated: “Community service is a core priority of the banking sector’s social responsibility, going beyond economic roles to support civil society institutions in delivering sustainable services.” He added that the financial sector is a major donor across various fields—health, education, and the environment—and that BAB is proud to contribute to enhancing healthcare services for diabetes patients.
He also reaffirmed BAB’s ongoing commitment to social initiatives, including previous support for the Bahrain Deaf Society and the “Fina Khair” campaign, with the aim of improving the availability and quality of healthcare services for all segments of society.
Awareness Campaign on Environmental, Social, and Governance (ESG) Standards
The Bahrain Association of Banks (BAB) has launched an extensive awareness campaign focused on the importance of Environmental, Social, and Governance (ESG) standards in the financial sector. The campaign aims to highlight how adopting ESG principles can enhance sustainability and corporate social responsibility, and to encourage financial institutions in Bahrain to integrate these standards into their practices. The initiative is being carried out in collaboration with various ministries, banks, and other stakeholders.
In a statement, Mr. Adnan Yusuf, Chairman of BAB, emphasized that the launch of this campaign reflects the association’s deep commitment to promoting social responsibility within Bahrain’s banking and financial institutions. He pointed out that ESG is not just an environmental concern; it is essential for ensuring business sustainability, building greater transparency, and fostering trust in the banking sector.
Mr. Yusuf further explained that ESG standards are a key factor in the modern business environment, urging financial institutions to adopt responsible practices. By integrating ESG criteria, banks can finance environmentally-friendly projects, support social responsibility initiatives, and better manage risks related to environmental and social factors. This will also help improve their reputations as organizations committed to sustainability and social welfare.
Dr. Waheed Al Qassim, CEO of BAB, added that implementing ESG standards has a positive impact on the overall performance of financial companies. He noted that these standards not only help businesses attract sustainable investors but also create new opportunities for growth and long-term success. In line with this, BAB is providing necessary resources, workshops, and training to promote a deeper understanding of ESG principles among the banking sector’s workforce.
This campaign is part of BAB’s ongoing efforts to raise awareness about sustainable practices in the financial industry. In 2017, the association formed a permanent committee to provide recommendations on sustainable finance in Bahrain’s banking sector. This initiative, which involved over 17 banks and financial institutions, has resulted in the creation of a sustainable finance framework, along with collaboration with the Central Bank of Bahrain. Additionally, BAB worked with the government to establish a support program for financing renewable energy projects, a move that has received international praise and recognition.
Bahrain Association of Banks joins Forever Green campaign, plants trees at Central Market
(2024)
In collaboration with the Bahrain Association of Banks (BAB), the National Initiative for the Development of the Agricultural Sector successfully executed a project aimed at afforesting two streets near the Financial Harbor. This initiative aligns with national strategies to bolster green spaces and counter the adverse impacts of climate change.
The afforestation ceremony, a significant milestone in this endeavor, took place in the Capital Governorate. The event was graced by the presence of The National Initiative for Agricultural Development (NIAD) Secretary-General Her Excellency Shaikha Maram bint Isa Al Khalifa, along with Dr. Waheed Al Qassim, the CEO of the Bahrain Association of Banks, and several high-ranking officials from financial and banking institutions supporting the afforestation project.
Throughout the ceremony, the campaign’s objectives were reviewed, shedding light on the locations targeted in the third phase. The positive outcomes stemming from intensified afforestation operations were highlighted, emphasizing the environmental benefits across various regions in the Kingdom. The concerted efforts also aim to counteract the effects of rising carbon emissions, thereby improving air quality and expanding the green footprint in the Kingdom of Bahrain.
Her Excellency Shaikha Maram bint Isa Al Khalifa conveyed her sincere appreciation and pride for the successful collaboration with the Bahrain Association of Banks. This collaboration materialized in the collective support of 15 banks, contributing to the afforestation of two streets in the capital, Manama. The project involved planting a variety of perennial and flowering trees known for their rapid growth, sustainability, minimal leaf fall, and resilience to climatic conditions.
Her Excellency Shaikha Maram emphasized the significance of the financial institutions’ response to the national afforestation campaign, “Forever Green,” as a demonstration of their responsible patriotism and commitment to community partnership. This underscores the financial sector’s active role in supporting environmental protection initiatives within the Kingdom of Bahrain.
Dr. Waheed Al Qassim, CEO of the Bahrain Association of Banks, underscored the eagerness of financial and banking institutions in Bahrain to contribute to this pivotal national project. He highlighted their commitment to environmental, social, and governance standards (ESG), emphasizing the integral role of the banking sector in supporting development efforts across various domains in the Kingdom.
Expressing gratitude on behalf of the Bahrain Association of Banks, Dr. Al Qassim commended the swift response of member banks to the call for support, noting that such positive engagement is consistent with the ongoing commitment of Bahraini banking and financial institutions to development initiatives within the Kingdom.
The afforestation project near Financial Harbour received robust backing from prominent institutions including BBK, NBB, Ithmaar Bank, United Gulf Bank, Arab Bank, ila Bank, Ahli United Bank, Bank of Khartoum, Habib Bank, Al Baraka Bank, Kuwait Finance House, HSBC, Eskan Bank, and GFH Financial Group.
On the sidelines of the event, Mrs. Zain Al Zayani, Head of Corporate Communications and Marketing at BBK, highlighted that BBK’s involvement in the afforestation project near the Financial Harbour aligns with its commitment to backing the national afforestation campaign, “Forever green,” initiated in October 2021. She emphasized the campaign’s significance in restoring environmental balance and enhancing the quality of life in a clean and sustainable environment. This aligns with BBK’s objectives in adhering to environmental, social, and governance (ESG) standards.
Mr. Mohammed Abu Saqr, Head of Corporate Communications and Public Relations at Ahli United Bank, expressed the bank’s support for the “Forever Green” campaign as a testament to its dedication to various national initiatives aimed at enhancing the environmental landscape. The bank’s commitment extends to promoting agriculture in urban spaces such as streets, intersections, public squares, and new projects, fostering a culture of environmental preservation within the community, increasing green spaces, and enhancing the environmental outlook in the Kingdom of Bahrain.
Mr. Ahmed Darwish, CEO of BOK International Bank – Bahrain, the first international branch of Bank of Khartoum, emphasized that their contribution to the national afforestation campaign reflects a profound appreciation for the role of social responsibility in fostering the growth and development of societies. He highlighted the importance of consolidating a culture of environmental protection, reducing the impacts of climate change, strengthening community partnerships between civil society organizations and other stakeholders, and encouraging collective responsibility towards the environment.
Mrs. Fatema Al Jahromi, Vice President of Internal Audit and Quality Assurance at United Gulf Bank, emphasized the bank’s commitment to supporting high-quality community programs and initiatives. She highlighted the importance of enhancing partnerships to address environmental challenges, improve the quality of the environment, increase green spaces in the Kingdom of Bahrain, and mitigate the effects of climate change.
Bahrain Association of Banks joins Forever Green campaign, plants trees at Central Market
(2021)
Manama, Dec. 5 (BNA): The Central Bank of Bahrain (CBB) expressed keenness on raising awareness within the financial and banking institutions in Bahrain about climate-related risks and on including them in the annual training plans of the institutions.
CBB Governor Rasheed Mohammed Al Maraj said the moves would be within a drive to develop directives related to the environment and the climate.
He was speaking as the Bahrain Association of Banks (BAB) joined the Forever Green campaign to carry out the Central Market afforestation project at a total cost of BD 21,000.
Al Maraj praised the active contribution of the Bahrain Association of Banks, banks and financial institutions to the Forever Green campaign, which reflects the commitment of the financial and banking sector to national orientations to expand green zones in Bahrain and reinforce sustainable development.
The launch ceremony coincided with the International Day of Banks.
In 2019, the UN designated December 4 as the International Day of Banks in recognition of the significant potential of multilateral development banks and other international development banks in financing sustainable development.
Shade trees were planted in a way that cools temperatures and purifies the air from environmental pollutants, for the sake of customers and Bahrain’s climate in general.
The Forever Green campaign, launched by National Initiative for Agricultural Development (NIAD), supports the efforts made by Bahrain locally, regionally and internationally to protect the climate.
The ceremony in which seedlings were planted to express the start of the process was attended by Al Maraj, NIAD Secretary-General Shaikha Maram bint Isa Al Khalifa, BAB Board Chairman Adnan Ahmed Yousif and CEOs sponsoring the initiative.
During the event, the bank CEOs and financial institutions that have contributed to the afforestation were briefed on the campaign objectives, the sites that benefited in the first phase and the positive results achieved from the strong campaign that is serving the climate and the flora in various regions in the Kingdom.
The campaign is also contributing to limiting the effects of climate changes related to the increase in carbon emissions, in a way that enhances air quality and preserves the green area in Bahrain, especially that the Central Market is among the hottest areas in Bahrain.
BAB Chairman said that the participation of the Association in this national campaign was part of climate and environment-related initiatives it is implementing in partnership with financial and banking institutions members of the Association and government and private agencies.
The aim is to maximize the impact of the contribution by the financial and banking sector to environmental protection initiatives in Bahrain, he said.
He thanked the financial and banking institutions participating in the national campaign and reflecting the spirit of national and societal responsibility.
The association aims to raise Bahrain’s contribution to supporting environmental issues locally, regionally and globally, he added.
It also aligns with the directives of relevant international organizations such as the Basel Committee on Banking Supervision, the International Association of Insurance Supervisors, the International Organization of Securities Commissions, and the Financial Stability Board, he said.
Shaikha Maram said the fruitful cooperation between NIAD and BAB enhances the government efforts that emerged clearly in the environmental and agricultural framework.
The directives and support of HM King Hamad bin Isa Al Khalifa and the interest of HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, stressed the need to achieve a food ecological model, she said.
They are based on sustainability and the ability to face various challenges, especially with the increase in environmental and climatic risks facing the world in the next decades, Shaikha Maram added.
She stressed that the announcement by HRH the Crown Prince and Prime Minister of Bahrain’s commitment to achieving zero carbon dioxide emissions by 2060 has made it imperative for all to cooperate and work together to combat these global challenges.
Shaikha Maram expressed her great pride in the fruitful cooperation with BAB that led to the joint support by 20 banks to plant acacia and ficus trees characterized by the sustainability of their green color, large size, umbrella shape, low fall of their leaves and their ability to adapt to the Kingdom’s climatic conditions.
“The positive response of financial institutions to the directives of the Central Bank of Bahrain on the necessity of dealing with climate-related risks reflects their deep sense of patriotism, which will increase the impact of their contribution to environmental protection initiatives in the Kingdom of Bahrain,” Shaikha Maram said.
