Al Salam Bank Steps Up Support for Local Health and Education Initiatives in ESG Push

Press release
Published December 4th, 2022 - 06:36 GMT
Al Salam Bank Steps Up Support for Local Health and Education Initiatives in ESG Push
Rafik Nayed Group CEO, Al Salam Bank Bahrain.
Al Salam Bank has announced a number of ESG initiatives focused on supporting education, health and women empowerment in Bahrain.

Al Salam Bank has announced a number of ESG initiatives focused on supporting education, health and women empowerment in Bahrain. The move is part of the Bank’s ongoing efforts to support the financial and social wellbeing of the community as well as the Kingdom’s Economic Vision 2030 and the United Nations’ Sustainable Development Goals (SDGs).

To support education in the Kingdom, Al Salam Bank has partnered with the American University of Bahrain to offer five scholarships. The scholarships will be awarded to high performing financially challenged high school graduates, enabling them to progress in their educational journeys and helping them to achieve their ambitions. 

The Bank has also partnered with the Reboot Coding Institute to launch a dedicated 18-month coding program. Around 200 students will have the opportunity to work on a wide range of projects including the Bank’s digital platforms.

Additionally, the Bank sponsored the renovation of the University of Bahrain’s Al Salam Knowledge Center by equipping it with the latest technologies. The new technologies will facilitate an enhanced learning experience for students, enabling more interactive and engaging lectures in what is a key education space for the university. 

Moreover, in partnership with the Central Bank of Bahrain (CBB), the Bahrain Association of Banks (BAB) and the Bahrain Institute of Banking and Finance (BIBF), Al Salam Bank launched of a six-month vocational training program for Bahraini graduates, which commenced on 2 October 2022. Participants are embarking on training programs and are undergoing on-the-job training across the Bank’s various departments offering them in-depth insights. 

In support of promoting healthy communities, the Bank has recently made a significant contribution to the Ministry of Health by funding the purchase of a mammogram device, which helps with the early detection and prevention of diseases. This initiative supplements the government’s efforts to enhance health services in Bahrain.

To promote women empowerment, the Bank sponsored Athar, the Bahraini Women’s Monument Project spearheaded by the Supreme Council for Women. The project aims to celebrate Bahraini women’s past and present contributions to the Kingdom and is designed to reflect four fundamental components – sea, women, innovation, and achievement – embodying the role of Bahraini women in national development. The monument is set to be unveiled on Bahraini Women’s Day on 1 December.

Commenting on the initiatives, Mr. Rafik Nayed, Group Chief Executive Officer of Al Salam Bank, said: “Our support for education, health and gender equality is a fundamental part of our Bank’s culture and is in line with our efforts to be a leader of positive change in the community. Our commitment to social responsibility is underpinned by a robust ESG framework that delivers tangible change. By implementing this framework, we are making a significant contribution to society in areas such as upskilling young talent and empowering women to become next generation leaders. Through our strategic sponsorships, we continue to champion the values that have transformed Al Salam Bank into one of the region’s leading Islamic financial institutions.”  


Background Information

Al Salam Bank

Al Salam Bank-Bahrain B.S.C (ASBB) is an Islamic bank headquartered in the Kingdom of Bahrain, and licensed and regulated by the Central Bank of Bahrain.

ASBB was established on 19 January 2006 in the Kingdom of Bahrain with paid-up capital of BD 120 million (US$ 318 million) and commenced commercial operations on 17 April 2006. The Bank was listed on Bahrain Bourse on 27 April 2006 and subsequently on the Dubai Financial Market (DFM) on 26 March 2008.

ASBB completed its merger with the Bahraini Saudi Bank (BSB) on 22 December 2011. On 2 February 2014, Al Salam Bank-Bahrain and BMI Bank B.S.C. (c) confirmed the conclusion of a business combination between the two institutions after obtaining the approval of their shareholders at their respective extraordinary general assembly meetings, and of 30 March 2014 BMI Bank became a wholly owned subsidiary of ASBB.

ASBB offers its customers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through an extended network of branches and ATMs, utilizing the state-of-art technologies to meet various banking requirements. In addition to its retail banking services, the Bank also offers Corporate Banking, Private Banking, Asset Management and Treasury services. The Bank's high-caliber management team is comprised of highly qualified and internationally experienced professionals with proven expertise in key areas of banking, finance, and related fields.

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